Ingevity Corp Expected to Post FY2018 Earnings of $2.80 Per Share (NGVT)
Ingevity Corp (NASDAQ:NGVT) – Stock analysts at KeyCorp upped their FY2018 earnings per share estimates for shares of Ingevity Corp in a note issued to investors on Wednesday. KeyCorp analyst M. Sison now expects that the company will post earnings per share of $2.80 for the year, up from their prior estimate of $2.60. KeyCorp currently has a “Buy” rating and a $75.00 price target on the stock.
Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.08. The company had revenue of $260.30 million for the quarter, compared to analyst estimates of $259.56 million. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis.
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Several other research firms have also weighed in on NGVT. Jefferies Group LLC set a $68.00 price objective on shares of Ingevity Corp and gave the company a “buy” rating in a research note on Wednesday, July 5th. BidaskClub lowered shares of Ingevity Corp from a “sell” rating to a “strong sell” rating in a research note on Friday, September 15th. Aegis reiterated a “buy” rating and issued a $67.00 price objective on shares of Ingevity Corp in a research note on Tuesday, July 4th. Zacks Investment Research lowered shares of Ingevity Corp from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Loop Capital initiated coverage on shares of Ingevity Corp in a research note on Thursday, September 28th. They issued a “buy” rating and a $73.00 price objective on the stock. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $69.83.
Shares of Ingevity Corp (NGVT) traded up 1.772% during trading on Friday, hitting $65.745. 96,112 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.77 billion and a PE ratio of 52.512. Ingevity Corp has a 1-year low of $40.24 and a 1-year high of $66.01. The stock’s 50 day moving average is $61.54 and its 200 day moving average is $61.54.
Several institutional investors and hedge funds have recently made changes to their positions in NGVT. Wells Fargo & Company MN increased its stake in shares of Ingevity Corp by 107.1% during the 1st quarter. Wells Fargo & Company MN now owns 72,056 shares of the company’s stock worth $4,385,000 after purchasing an additional 37,259 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Ingevity Corp by 10.7% during the 1st quarter. First Trust Advisors LP now owns 37,914 shares of the company’s stock worth $2,307,000 after purchasing an additional 3,673 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Ingevity Corp during the 1st quarter worth $1,141,000. Virginia Retirement Systems ET AL increased its stake in shares of Ingevity Corp by 2.3% during the 1st quarter. Virginia Retirement Systems ET AL now owns 4,466 shares of the company’s stock worth $272,000 after purchasing an additional 100 shares during the last quarter. Finally, Mason Street Advisors LLC increased its stake in shares of Ingevity Corp by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 9,845 shares of the company’s stock worth $599,000 after purchasing an additional 642 shares during the last quarter.
Ingevity Corp Company Profile
Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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