Brokers Set Expectations for Ingevity Corp’s Q4 2019 Earnings (NGVT)

Ingevity Corp (NYSE:NGVT) – Research analysts at Jefferies Financial Group lowered their Q4 2019 earnings per share estimates for Ingevity in a research note issued to investors on Wednesday, May 15th. Jefferies Financial Group analyst D. Rizzo now expects that the company will post earnings per share of $1.07 for the quarter, down from their previous estimate of $1.12. Jefferies Financial Group also issued estimates for Ingevity’s FY2021 earnings at $5.85 EPS.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.02. The company had revenue of $276.80 million for the quarter, compared to analysts’ expectations of $288.07 million. Ingevity had a net margin of 13.70% and a return on equity of 53.81%. Ingevity’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS.

NGVT has been the subject of several other research reports. 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 lowered shares of Ingevity from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 16th. ValuEngine upgraded Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Finally, Loop Capital increased their target price on 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. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $102.44.

NGVT opened at $91.28 on Friday. Ingevity has a 52-week low of $74.98 and a 52-week high of $120.41. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 1.61 and a beta of 1.61. The company has a current ratio of 2.29, a quick ratio of 1.14 and a debt-to-equity ratio of 4.03.

Several institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY grew its stake in Ingevity by 83.0% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 24,209 shares of the company’s stock worth $2,556,000 after buying an additional 10,980 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in Ingevity during the 1st quarter worth approximately $134,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Ingevity in the 1st quarter valued at approximately $335,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Ingevity in the 1st quarter valued at approximately $516,000. Finally, Man Group plc acquired a new stake in shares of Ingevity in the 1st quarter valued at approximately $1,157,000. 95.46% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Katherine Pryor Burgeson sold 4,400 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $114.76, for a total transaction of $504,944.00. Following the completion of the sale, the executive vice president now directly owns 8,801 shares in the company, valued at $1,010,002.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John C. Fortson sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $114.46, for a total value of $2,060,280.00. The disclosure for this sale can be found here. Insiders sold 25,125 shares of company stock valued at $2,876,065 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

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 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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