Ingevity Corp (NASDAQ:NGVT) – Research analysts at SunTrust Banks raised their Q3 2017 earnings estimates for Ingevity Corp in a report released on Friday. SunTrust Banks analyst J. Sheehan now anticipates that the company will post earnings of $0.72 per share for the quarter, up from their previous forecast of $0.69. SunTrust Banks also issued estimates for Ingevity Corp’s Q4 2017 earnings at $0.34 EPS, FY2017 earnings at $2.34 EPS, FY2018 earnings at $2.50 EPS and FY2019 earnings at $3.14 EPS.

Other research analysts also recently issued reports about the stock. Jefferies Group LLC raised their price objective on shares of Ingevity Corp from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Zacks Investment Research raised shares of Ingevity Corp from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Wednesday, July 5th. Finally, Aegis reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Ingevity Corp in a report on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $64.75.

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Shares of Ingevity Corp (NASDAQ:NGVT) opened at 59.47 on Monday. Ingevity Corp has a 52 week low of $40.24 and a 52 week high of $65.02. The company has a 50 day moving average price of $57.32 and a 200 day moving average price of $58.02. The company has a market capitalization of $2.50 billion and a PE ratio of 47.50.

Ingevity Corp (NASDAQ:NGVT) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.08. Ingevity Corp had a return on equity of 55.06% and a net margin of 10.53%. The company had revenue of $260.30 million during the quarter, compared to analysts’ expectations of $259.56 million. The company’s quarterly revenue was up 2.3% on a year-over-year basis.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Elkfork Partners LLC increased its position in shares of Ingevity Corp by 7.1% in the first quarter. Elkfork Partners LLC now owns 2,002 shares of the company’s stock valued at $122,000 after buying an additional 132 shares during the last quarter. IFP Advisors Inc increased its position in shares of Ingevity Corp by 125.3% in the first quarter. IFP Advisors Inc now owns 2,224 shares of the company’s stock valued at $135,000 after buying an additional 1,237 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in shares of Ingevity Corp by 7.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the company’s stock valued at $155,000 after buying an additional 168 shares during the last quarter. Glen Harbor Capital Management LLC increased its position in shares of Ingevity Corp by 7.1% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the company’s stock valued at $188,000 after buying an additional 204 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Ingevity Corp by 46.9% in the first quarter. Envestnet Asset Management Inc. now owns 3,500 shares of the company’s stock valued at $211,000 after buying an additional 1,117 shares during the last quarter.

In other Ingevity Corp news, Director Jean S. Blackwell acquired 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average cost of $58.38 per share, with a total value of $87,570.00. Following the acquisition, the director now owns 4,711 shares in the company, valued at $275,028.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

About Ingevity Corp

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.

Earnings History and Estimates for Ingevity Corp (NASDAQ:NGVT)

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