Ingevity Corp (NASDAQ:NGVT) – Analysts at Oppenheimer Holdings raised their FY2018 earnings estimates for Ingevity Corp in a research note issued to investors on Thursday. Oppenheimer Holdings analyst I. Zaffino now forecasts that the company will earn $2.81 per share for the year, up from their previous estimate of $2.77.
A number of other equities research analysts also recently weighed in on NGVT. Zacks Investment Research raised shares of Ingevity Corp from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Group LLC set a $68.00 price target on shares of Ingevity Corp and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Finally, Aegis reissued a “buy” rating and set a $67.00 price target on shares of Ingevity Corp in a research note on Tuesday, July 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Ingevity Corp presently has a consensus rating of “Buy” and an average price target of $64.75.
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Shares of Ingevity Corp (NGVT) traded up 0.05% during mid-day trading on Monday, reaching $59.93. 126,660 shares of the company were exchanged. The firm has a 50-day moving average price of $57.17 and a 200 day moving average price of $57.98. The stock has a market capitalization of $2.52 billion and a P/E ratio of 47.87. Ingevity Corp has a 12 month low of $37.53 and a 12 month high of $65.02.
Ingevity Corp (NASDAQ:NGVT) last issued its earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.08. The firm had revenue of $260.30 million during the quarter, compared to analysts’ expectations of $259.56 million. Ingevity Corp had a net margin of 10.53% and a return on equity of 55.06%. The firm’s revenue was up 2.3% compared to the same quarter last year.
In other Ingevity Corp news, Director Jean S. Blackwell purchased 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average cost of $58.38 per share, with a total value of $87,570.00. Following the completion of the purchase, the director now directly owns 4,711 shares in the company, valued at approximately $275,028.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Large investors have recently bought and sold shares of the company. Elkfork Partners LLC increased its stake in Ingevity Corp by 7.1% in the first quarter. Elkfork Partners LLC now owns 2,002 shares of the company’s stock worth $122,000 after buying an additional 132 shares during the period. IFP Advisors Inc increased its stake in Ingevity Corp by 125.3% in the first quarter. IFP Advisors Inc now owns 2,224 shares of the company’s stock worth $135,000 after buying an additional 1,237 shares during the period. Meadow Creek Investment Management LLC increased its stake in Ingevity Corp by 7.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the company’s stock worth $155,000 after buying an additional 168 shares during the period. Glen Harbor Capital Management LLC increased its stake in Ingevity Corp by 7.1% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the company’s stock worth $188,000 after buying an additional 204 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Ingevity Corp by 46.9% in the first quarter. Envestnet Asset Management Inc. now owns 3,500 shares of the company’s stock worth $211,000 after buying an additional 1,117 shares during the period.
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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