Ingevity Corp (NASDAQ:NGVT) – Research analysts at KeyCorp increased their FY2017 earnings per share (EPS) estimates for shares of Ingevity Corp in a research report issued to clients and investors on Thursday. KeyCorp analyst M. Sison now forecasts that the company will post earnings of $2.40 per share for the year, up from their prior estimate of $2.35.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.08. Ingevity Corp had a net margin of 10.53% and a return on equity of 55.06%. The business had revenue of $260.30 million for the quarter, compared to analyst estimates of $259.56 million. Ingevity Corp’s quarterly revenue was up 2.3% compared to the same quarter last year.
NGVT has been the topic of a number of other reports. Zacks Investment Research lowered shares of Ingevity Corp from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Jefferies Group LLC set a $68.00 price objective on shares of Ingevity Corp and gave the company a “buy” rating in a report on Wednesday, July 5th. Finally, Aegis restated a “buy” rating and issued a $67.00 price objective on shares of Ingevity Corp in a report on Tuesday, July 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.75.
Ingevity Corp (NGVT) opened at 59.90 on Monday. The firm has a 50-day moving average of $57.17 and a 200 day moving average of $57.98. Ingevity Corp has a 12-month low of $37.53 and a 12-month high of $65.02. The stock has a market capitalization of $2.52 billion and a price-to-earnings ratio of 47.84.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp bought a new position in Ingevity Corp during the first quarter worth approximately $359,000. OppenheimerFunds Inc. increased its position in Ingevity Corp by 6.9% in the first quarter. OppenheimerFunds Inc. now owns 534,701 shares of the company’s stock worth $32,537,000 after buying an additional 34,656 shares during the period. Hosking Partners LLP increased its position in Ingevity Corp by 9.9% in the first quarter. Hosking Partners LLP now owns 21,455 shares of the company’s stock worth $1,306,000 after buying an additional 1,939 shares during the period. Norges Bank bought a new position in Ingevity Corp during the fourth quarter worth approximately $17,268,000. Finally, Wellington Management Group LLP increased its position in Ingevity Corp by 85.8% in the first quarter. Wellington Management Group LLP now owns 627,588 shares of the company’s stock worth $38,188,000 after buying an additional 289,880 shares during the period.
In related news, Director Jean S. Blackwell bought 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average cost of $58.38 per share, with a total value of $87,570.00. Following the transaction, the director now directly owns 4,711 shares of the company’s stock, valued at approximately $275,028.18. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
About Ingevity Corp
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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