Ingevity Corp (NYSE:NGVT) – Analysts at SunTrust Banks increased their FY2020 earnings estimates for Ingevity in a report issued on Monday, December 3rd. SunTrust Banks analyst J. Sheehan now expects that the company will post earnings of $6.11 per share for the year, up from their previous forecast of $6.10. SunTrust Banks also issued estimates for Ingevity’s FY2021 earnings at $6.82 EPS and FY2022 earnings at $7.64 EPS.
Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, October 24th. The company reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.12. Ingevity had a return on equity of 47.45% and a net margin of 15.53%. The business had revenue of $311.20 million during the quarter, compared to the consensus estimate of $305.50 million.
Other equities analysts also recently issued reports about the company. ValuEngine downgraded Ingevity from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Oppenheimer set a $100.00 price target on Ingevity and gave the company a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research downgraded Ingevity from a “buy” rating to a “hold” rating in a report on Monday, November 26th. Loop Capital set a $98.00 price target on Ingevity and gave the company a “hold” rating in a report on Thursday, August 16th. Finally, Berenberg Bank downgraded Ingevity from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a report on Tuesday, October 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $104.00.
Shares of NGVT opened at $95.02 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.34 and a quick ratio of 1.26. The company has a market capitalization of $3.99 billion, a P/E ratio of 36.83, a price-to-earnings-growth ratio of 2.06 and a beta of 1.48. Ingevity has a 52-week low of $66.57 and a 52-week high of $106.59.
A number of hedge funds and other institutional investors have recently modified their holdings of NGVT. Wells Fargo & Company MN grew its holdings in Ingevity by 732.8% in the third quarter. Wells Fargo & Company MN now owns 776,899 shares of the company’s stock valued at $79,150,000 after purchasing an additional 683,611 shares during the last quarter. FMR LLC grew its position in shares of Ingevity by 240.1% in the 2nd quarter. FMR LLC now owns 866,464 shares of the company’s stock worth $70,062,000 after acquiring an additional 611,676 shares in the last quarter. BlackRock Inc. grew its position in shares of Ingevity by 7.8% in the 2nd quarter. BlackRock Inc. now owns 5,985,960 shares of the company’s stock worth $484,025,000 after acquiring an additional 431,313 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Ingevity in the 2nd quarter worth approximately $19,759,000. Finally, Pictet Asset Management Ltd. grew its position in shares of Ingevity by 73.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 381,535 shares of the company’s stock worth $38,871,000 after acquiring an additional 161,796 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.
Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.
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