Brokerages predict that Ingevity Corp (NASDAQ:NGVT) will report sales of $258.95 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Ingevity Corp’s earnings. The highest sales estimate is $260.00 million and the lowest is $257.90 million. Ingevity Corp posted sales of $252.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.8%. The company is scheduled to report its next earnings results on Wednesday, November 1st.

On average, analysts expect that Ingevity Corp will report full-year sales of $258.95 million for the current fiscal year, with estimates ranging from $950.00 million to $953.40 million. For the next financial year, analysts anticipate that the business will report sales of $1.09 billion per share, with estimates ranging from $1.02 billion to $1.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Ingevity Corp.

Ingevity Corp (NASDAQ:NGVT) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.11. The business had revenue of $264.10 million during the quarter, compared to analyst estimates of $260.88 million. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. Ingevity Corp’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share.

A number of equities analysts recently issued reports on the stock. Loop Capital reiterated a “buy” rating and set a $76.00 price objective on shares of Ingevity Corp in a research report on Wednesday, October 18th. BidaskClub upgraded shares of Ingevity Corp from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Ingevity Corp from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Wednesday, October 4th. KeyCorp reiterated a “buy” rating and set a $75.00 price objective (up from $70.00) on shares of Ingevity Corp in a research report on Thursday, October 5th. Finally, Jefferies Group LLC set a $71.00 price objective on shares of Ingevity Corp and gave the stock a “buy” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Ingevity Corp currently has a consensus rating of “Buy” and a consensus price target of $70.33.

Hedge funds have recently added to or reduced their stakes in the stock. Old Mutual Global Investors UK Ltd. acquired a new position in Ingevity Corp in the 3rd quarter valued at approximately $328,000. Kornitzer Capital Management Inc. KS increased its position in Ingevity Corp by 2.5% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 307,149 shares of the company’s stock valued at $19,188,000 after acquiring an additional 7,405 shares during the period. Channing Capital Management LLC increased its position in Ingevity Corp by 3.5% in the 3rd quarter. Channing Capital Management LLC now owns 932,983 shares of the company’s stock valued at $58,283,000 after acquiring an additional 31,153 shares during the period. Everence Capital Management Inc. acquired a new position in Ingevity Corp in the 3rd quarter valued at approximately $242,000. Finally, Rice Hall James & Associates LLC acquired a new position in Ingevity Corp in the 3rd quarter valued at approximately $5,533,000.

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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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Earnings History and Estimates for Ingevity Corp (NASDAQ:NGVT)

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