Wall Street analysts expect Ingevity Corp (NYSE:NGVT) to announce sales of $264.90 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Ingevity’s earnings, with the lowest sales estimate coming in at $260.00 million and the highest estimate coming in at $269.80 million. Ingevity reported sales of $229.50 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.4%. The firm is scheduled to announce its next earnings results on Tuesday, February 19th.
On average, analysts expect that Ingevity will report full year sales of $1.12 billion for the current fiscal year, with estimates ranging from $1.11 billion to $1.12 billion. For the next financial year, analysts anticipate that the company will post sales of $1.23 billion, with estimates ranging from $1.22 billion to $1.26 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Ingevity.
Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.12. The business had revenue of $311.20 million for the quarter, compared to analyst estimates of $305.50 million. Ingevity had a return on equity of 47.45% and a net margin of 15.53%.
Several analysts recently commented on NGVT shares. Loop Capital set a $98.00 price target on Ingevity and gave the company a “hold” rating in a research note on Thursday, August 16th. Zacks Investment Research lowered Ingevity from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Berenberg Bank lowered Ingevity from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research note on Tuesday, October 2nd. ValuEngine lowered Ingevity from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, Oppenheimer set a $100.00 price target on Ingevity and gave the company a “buy” rating in a research note on Wednesday, October 24th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $104.00.
A number of institutional investors have recently bought and sold shares of NGVT. Wells Fargo & Company MN raised its position in shares of Ingevity by 732.8% during the third quarter. Wells Fargo & Company MN now owns 776,899 shares of the company’s stock worth $79,150,000 after acquiring an additional 683,611 shares during the last quarter. FMR LLC increased its holdings in Ingevity by 240.1% in the second quarter. FMR LLC now owns 866,464 shares of the company’s stock valued at $70,062,000 after purchasing an additional 611,676 shares during the last quarter. BlackRock Inc. increased its holdings in Ingevity by 7.8% in the second quarter. BlackRock Inc. now owns 5,985,960 shares of the company’s stock valued at $484,025,000 after purchasing an additional 431,313 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in Ingevity in the second quarter valued at about $19,759,000. Finally, Pictet Asset Management Ltd. increased its holdings in shares of Ingevity by 73.6% in the third 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. 92.89% of the stock is currently owned by institutional investors.
NGVT stock traded down $5.58 during trading on Friday, hitting $95.02. The company had a trading volume of 180,404 shares, compared to its average volume of 201,378. 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 firm has a market cap of $4.11 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 2.18 and a beta of 1.48. Ingevity has a fifty-two week low of $66.57 and a fifty-two week high of $106.59.
Ingevity Company Profile
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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