Ingevity Corp (NYSE:NGVT) – Stock analysts at SunTrust Banks cut their FY2019 EPS estimates for shares of Ingevity in a report released on Thursday, October 24th. SunTrust Banks analyst J. Sheehan now anticipates that the company will post earnings of $4.83 per share for the year, down from their previous estimate of $4.87. SunTrust Banks currently has a “Buy” rating and a $120.00 target price on the stock. SunTrust Banks also issued estimates for Ingevity’s Q4 2019 earnings at $1.02 EPS, FY2020 earnings at $5.89 EPS, FY2021 earnings at $6.69 EPS and FY2022 earnings at $7.36 EPS.
Other analysts also recently issued research reports about the company. Loop Capital upgraded Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. BMO Capital Markets lowered their target price on Ingevity to $121.00 and set an “outperform” rating on the stock in a research note on Monday. Jefferies Financial Group downgraded Ingevity from a “buy” rating to a “hold” rating and lowered their target price for the stock from $129.00 to $107.00 in a research note on Friday, July 19th. Stifel Nicolaus lowered their target price on Ingevity from $109.00 to $99.00 and set a “hold” rating on the stock in a research note on Wednesday, September 25th. Finally, ValuEngine upgraded Ingevity from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ingevity presently has an average rating of “Buy” and an average price target of $112.78.
Shares of NGVT opened at $86.97 on Monday. Ingevity has a 52 week low of $72.59 and a 52 week high of $120.41. The company has a quick ratio of 1.25, a current ratio of 2.39 and a debt-to-equity ratio of 2.92. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.77 and a beta of 2.10. The stock’s 50-day moving average price is $84.98 and its 200-day moving average price is $92.30.
Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.04. Ingevity had a return on equity of 53.69% and a net margin of 14.31%. The business had revenue of $359.90 million for the quarter, compared to the consensus estimate of $365.44 million. During the same quarter in the previous year, the business earned $1.16 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of NGVT. Invesco Ltd. boosted its position in Ingevity by 96.8% during the second quarter. Invesco Ltd. now owns 1,560,605 shares of the company’s stock worth $164,129,000 after purchasing an additional 767,623 shares in the last quarter. Ardevora Asset Management LLP purchased a new position in Ingevity during the third quarter worth approximately $26,657,000. Nuveen Asset Management LLC boosted its position in Ingevity by 334.0% during the second quarter. Nuveen Asset Management LLC now owns 349,547 shares of the company’s stock worth $36,761,000 after purchasing an additional 269,013 shares in the last quarter. Royal Bank of Canada boosted its position in Ingevity by 139.9% during the second quarter. Royal Bank of Canada now owns 265,790 shares of the company’s stock worth $27,954,000 after purchasing an additional 155,017 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in Ingevity during the second quarter worth approximately $16,143,000. Institutional investors own 91.52% 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 hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.
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