$0.95 EPS Expected for Ingevity Corp (NGVT) This Quarter

Analysts expect Ingevity Corp (NYSE:NGVT) to announce earnings per share (EPS) of $0.95 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Ingevity’s earnings. The lowest EPS estimate is $0.89 and the highest is $1.02. Ingevity reported earnings of $0.79 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 20.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that Ingevity will report full-year earnings of $4.87 per share for the current year, with EPS estimates ranging from $4.80 to $4.95. For the next fiscal year, analysts forecast that the company will report earnings of $5.95 per share, with EPS estimates ranging from $5.35 to $6.57. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Ingevity.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, February 13th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.29. Ingevity had a net margin of 14.92% and a return on equity of 53.18%. The firm had revenue of $278.60 million during the quarter, compared to analyst estimates of $265.60 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue was up 21.4% compared to the same quarter last year.

Several research firms recently weighed in on NGVT. Oppenheimer set a $110.00 price target on shares of Ingevity and gave the company a “buy” rating in a research report on Thursday, February 14th. Zacks Investment Research upgraded shares of Ingevity from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Friday, November 30th. Jefferies Financial Group set a $68.00 price target on shares of Ingevity and gave the company a “buy” rating in a research report on Thursday, December 20th. ValuEngine upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Finally, Loop Capital increased their price target on shares of Ingevity to $104.00 and gave the company a “hold” rating in a research report on Friday, February 15th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Ingevity presently has an average rating of “Buy” and a consensus price target of $100.22.

In other Ingevity news, CAO Phillip John Platt sold 2,725 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $114.07, for a total transaction of $310,840.75. Following the completion of the transaction, the chief accounting officer now owns 1,137 shares in the company, valued at $129,697.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John C. Fortson sold 18,000 shares of the stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $114.46, for a total transaction of $2,060,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,125 shares of company stock valued at $2,876,065. 0.60% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new position in Ingevity during the fourth quarter worth about $25,000. Signaturefd LLC lifted its holdings in shares of Ingevity by 211.9% in the third quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock worth $150,000 after buying an additional 1,000 shares in the last quarter. ETF Managers Group LLC lifted its holdings in shares of Ingevity by 17.4% in the fourth quarter. ETF Managers Group LLC now owns 1,793 shares of the company’s stock worth $150,000 after buying an additional 266 shares in the last quarter. Ibex Investors LLC purchased a new stake in shares of Ingevity in the third quarter worth about $201,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Ingevity in the third quarter worth about $204,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Shares of NYSE NGVT traded down $2.03 during trading on Monday, hitting $105.61. The stock had a trading volume of 312,982 shares, compared to its average volume of 730,386. Ingevity has a 12 month low of $70.71 and a 12 month high of $120.41. The company has a debt-to-equity ratio of 2.19, a current ratio of 2.31 and a quick ratio of 1.26. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 1.84 and a beta of 1.65.

About Ingevity

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 hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Earnings History and Estimates for Ingevity (NYSE:NGVT)

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