Wall Street analysts expect that Ingevity Corp (NYSE:NGVT) will report earnings per share of $1.04 for the current quarter, Zacks reports. Two analysts have provided estimates for Ingevity’s earnings. The lowest EPS estimate is $0.94 and the highest is $1.13. Ingevity posted earnings of $0.86 per share in the same quarter last year, which indicates a positive year over year growth rate of 20.9%. The business is expected to issue its next earnings report after the market closes on Wednesday, October 24th.

According to Zacks, analysts expect that Ingevity will report full year earnings of $3.72 per share for the current year, with EPS estimates ranging from $3.48 to $3.90. For the next year, analysts forecast that the business will report earnings of $4.67 per share, with EPS estimates ranging from $4.32 to $4.92. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Ingevity.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, July 25th. The company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.13. The company had revenue of $308.60 million during the quarter, compared to analysts’ expectations of $305.14 million. Ingevity had a net margin of 14.72% and a return on equity of 46.65%. Ingevity’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share.

Several research firms recently weighed in on NGVT. ValuEngine cut shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Tuesday. Berenberg Bank cut shares of Ingevity from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research note on Tuesday, October 2nd. Zacks Investment Research cut shares of Ingevity from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Loop Capital set a $98.00 target price on shares of Ingevity and gave the company a “hold” rating in a research note on Thursday, August 16th. Finally, KeyCorp raised their target price on shares of Ingevity from $95.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $101.44.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Synovus Financial Corp lifted its position in Ingevity by 961.5% during the second quarter. Synovus Financial Corp now owns 1,380 shares of the company’s stock valued at $112,000 after purchasing an additional 1,250 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Ingevity during the second quarter valued at $146,000. Flagship Harbor Advisors LLC bought a new position in Ingevity during the second quarter valued at $138,000. Mount Yale Investment Advisors LLC bought a new position in Ingevity during the first quarter valued at $147,000. Finally, Itau Unibanco Holding S.A. bought a new position in Ingevity during the second quarter valued at $176,000. 92.04% of the stock is owned by institutional investors.

NGVT traded down $0.23 during trading on Friday, hitting $88.63. 395,213 shares of the company traded hands, compared to its average volume of 315,658. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.99 and a beta of 1.22. Ingevity has a 1 year low of $66.57 and a 1 year high of $106.59. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.48 and a current ratio of 2.58.

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 wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

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Earnings History and Estimates for Ingevity (NYSE:NGVT)

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