FY2018 EPS Estimates for Ingevity Corp Raised by Analyst (NGVT)
Ingevity Corp (NASDAQ:NGVT) – Equities researchers at KeyCorp boosted their FY2018 EPS estimates for shares of Ingevity Corp in a research note issued to investors on Wednesday. KeyCorp analyst M. Sison now forecasts that the company will post earnings of $2.80 per share for the year, up from their prior forecast of $2.60. KeyCorp currently has a “Buy” rating and a $75.00 price target on the stock.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.08. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The firm had revenue of $260.30 million during the quarter, compared to analyst estimates of $259.56 million. The company’s revenue was up 2.3% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “FY2018 EPS Estimates for Ingevity Corp Raised by Analyst (NGVT)” was first posted by Daily Political and is the property of of Daily Political. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.dailypolitical.com/2017/10/08/fy2018-eps-estimates-for-ingevity-corp-raised-by-analyst-ngvt.html.
A number of other research firms also recently commented on NGVT. Jefferies Group LLC set a $68.00 target price on Ingevity Corp and gave the company a “buy” rating in a research report on Wednesday, July 5th. BidaskClub downgraded Ingevity Corp from a “sell” rating to a “strong sell” rating in a research report on Friday, September 15th. Aegis restated a “buy” rating and issued a $67.00 target price on shares of Ingevity Corp in a research report on Tuesday, July 4th. Zacks Investment Research downgraded Ingevity Corp from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Loop Capital initiated coverage on Ingevity Corp in a research report on Thursday, September 28th. They issued a “buy” rating and a $73.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $69.83.
Shares of Ingevity Corp (NASDAQ NGVT) opened at 65.67 on Friday. Ingevity Corp has a 52-week low of $40.24 and a 52-week high of $66.01. The stock’s 50 day moving average is $61.74 and its 200 day moving average is $61.74. The stock has a market cap of $2.77 billion and a price-to-earnings ratio of 52.45.
Hedge funds have recently bought and sold shares of the stock. Pacad Investment Ltd. purchased a new stake in shares of Ingevity Corp in the 2nd quarter valued at $183,000. Envestnet Asset Management Inc. raised its holdings in shares of Ingevity Corp by 46.9% in the 1st 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 period. Cubist Systematic Strategies LLC purchased a new stake in shares of Ingevity Corp in the 2nd quarter valued at $203,000. Balyasny Asset Management LLC purchased a new stake in shares of Ingevity Corp in the 2nd quarter valued at $213,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Ingevity Corp by 5.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,072 shares of the company’s stock valued at $234,000 after buying an additional 210 shares during the period.
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.
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