Brokerages Anticipate Ingevity Corp (NGVT) Will Post Earnings of $0.36 Per Share

Brokerages expect Ingevity Corp (NYSE:NGVT) to report $0.36 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Ingevity’s earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.29. Ingevity reported earnings of $0.34 per share during the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, February 20th.

According to Zacks, analysts expect that Ingevity will report full-year earnings of $2.49 per share for the current fiscal year, with EPS estimates ranging from $2.43 to $2.55. For the next fiscal year, analysts forecast that the business will report earnings of $2.85 per share, with EPS estimates ranging from $2.66 to $3.13. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Ingevity.

NGVT has been the topic of a number of research reports. Loop Capital reiterated a “buy” rating and issued a $76.00 price target on shares of Ingevity in a research note on Wednesday, October 18th. Jefferies Group increased their target price on shares of Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. BidaskClub upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Saturday, November 4th. Rowe restated an “outperform” rating and set a $90.00 target price (up previously from $80.00) on shares of Ingevity in a research report on Thursday, November 30th. Finally, Zacks Investment Research lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $78.17.

Large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ingevity during the 2nd quarter worth approximately $333,000. OxFORD Asset Management LLP lifted its holdings in shares of Ingevity by 20.0% during the 3rd quarter. OxFORD Asset Management LLP now owns 165,512 shares of the company’s stock worth $10,430,000 after acquiring an additional 27,624 shares during the period. Smith Asset Management Group LP bought a new stake in shares of Ingevity during the 3rd quarter worth approximately $1,138,000. WINTON GROUP Ltd lifted its holdings in shares of Ingevity by 151.5% during the 3rd quarter. WINTON GROUP Ltd now owns 65,528 shares of the company’s stock worth $4,094,000 after acquiring an additional 39,473 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Ingevity by 4.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 300,514 shares of the company’s stock worth $18,774,000 after acquiring an additional 13,448 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Shares of Ingevity (NYSE NGVT) opened at $73.42 on Thursday. Ingevity has a fifty-two week low of $52.79 and a fifty-two week high of $80.18. The stock has a market cap of $3,018.42, a PE ratio of 33.07, a PEG ratio of 2.06 and a beta of 1.20. The company has a quick ratio of 1.34, a current ratio of 2.36 and a debt-to-equity ratio of 1.92.

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About Ingevity

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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