Ingevity Corp (NYSE:NGVT) – Analysts at Oppenheimer lifted their Q4 2018 earnings estimates for Ingevity in a research report issued to clients and investors on Wednesday, November 14th. Oppenheimer analyst I. Zaffino now expects that the company will earn $0.74 per share for the quarter, up from their previous estimate of $0.50. Oppenheimer has a “Buy” rating and a $110.00 price objective on the stock. Oppenheimer also issued estimates for Ingevity’s FY2019 earnings at $4.62 EPS.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, October 24th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.12. Ingevity had a return on equity of 47.45% and a net margin of 15.53%. The company had revenue of $311.20 million during the quarter, compared to analysts’ expectations of $305.50 million.

A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Ingevity from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Berenberg Bank cut Ingevity from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a research note on Tuesday, October 2nd. KeyCorp raised their price objective on Ingevity from $95.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. ValuEngine cut Ingevity from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, Loop Capital set a $98.00 price objective on Ingevity and gave the stock a “hold” rating in a research note on Thursday, August 16th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ingevity has an average rating of “Buy” and a consensus price target of $102.56.

Ingevity stock opened at $95.24 on Monday. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.34 and a quick ratio of 1.26. Ingevity has a one year low of $66.57 and a one year high of $106.59. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 2.15 and a beta of 1.47.

Several large investors have recently made changes to their positions in NGVT. Wells Fargo & Company MN raised its stake in shares of Ingevity by 732.8% in the third quarter. Wells Fargo & Company MN now owns 776,899 shares of the company’s stock worth $79,150,000 after purchasing an additional 683,611 shares during the last quarter. FMR LLC raised its stake in shares of Ingevity by 240.1% in the second quarter. FMR LLC now owns 866,464 shares of the company’s stock worth $70,062,000 after purchasing an additional 611,676 shares during the last quarter. BlackRock Inc. raised its stake in shares of Ingevity by 7.8% in the second quarter. BlackRock Inc. now owns 5,985,960 shares of the company’s stock worth $484,025,000 after purchasing an additional 431,313 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Ingevity in the second quarter worth about $19,759,000. Finally, Pictet Asset Management Ltd. raised its stake in shares of Ingevity by 73.6% in the third quarter. Pictet Asset Management Ltd. now owns 381,535 shares of the company’s stock worth $38,871,000 after purchasing an additional 161,796 shares during the last quarter. Hedge funds and other institutional investors own 93.34% of the company’s stock.

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 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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