Oppenheimer Comments on Ingevity Corp’s Q2 2018 Earnings (NGVT)

Ingevity Corp (NYSE:NGVT) – Research analysts at Oppenheimer issued their Q2 2018 earnings estimates for Ingevity in a research report issued on Tuesday. Oppenheimer analyst I. Zaffino forecasts that the company will post earnings of $1.01 per share for the quarter. Oppenheimer also issued estimates for Ingevity’s Q3 2018 earnings at $1.01 EPS.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $229.50 million for the quarter, compared to analyst estimates of $214.94 million. Ingevity had a net margin of 12.99% and a return on equity of 56.02%. Ingevity’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share.

Other research analysts have also issued reports about the stock. Loop Capital restated a “buy” rating and issued a $80.00 price objective (up from $76.00) on shares of Ingevity in a research note on Tuesday, November 14th. BidaskClub upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. Jefferies Group lifted their price objective on shares of Ingevity from $71.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Rowe restated an “outperform” rating and issued a $90.00 price objective (up from $80.00) on shares of Ingevity in a research note on Thursday, November 30th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.17.

Ingevity (NYSE:NGVT) opened at $77.66 on Thursday. The company has a quick ratio of 1.34, a current ratio of 2.36 and a debt-to-equity ratio of 1.92. The company has a market cap of $3,043.68, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 2.08 and a beta of 1.20. Ingevity has a one year low of $52.79 and a one year high of $80.18.

Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Ingevity by 4.9% in the fourth quarter. BlackRock Inc. now owns 5,415,950 shares of the company’s stock valued at $381,661,000 after acquiring an additional 253,722 shares in the last quarter. Channing Capital Management LLC boosted its holdings in shares of Ingevity by 11.4% in the fourth quarter. Channing Capital Management LLC now owns 1,038,974 shares of the company’s stock valued at $73,216,000 after acquiring an additional 105,991 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Ingevity by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 687,517 shares of the company’s stock valued at $48,449,000 after acquiring an additional 6,622 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Ingevity by 1.4% in the fourth quarter. Lazard Asset Management LLC now owns 513,444 shares of the company’s stock valued at $36,182,000 after acquiring an additional 6,908 shares in the last quarter. Finally, Copper Rock Capital Partners LLC boosted its holdings in shares of Ingevity by 29.3% in the fourth quarter. Copper Rock Capital Partners LLC now owns 421,298 shares of the company’s stock valued at $29,946,000 after acquiring an additional 95,350 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

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Ingevity 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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