Ingevity (NYSE:NGVT) Issues Earnings Results

Ingevity (NYSE:NGVT) issued its quarterly earnings data on Wednesday. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.07, FiscalAI reports. The business had revenue of $305.10 million for the quarter, compared to analysts’ expectations of $303.91 million. Ingevity had a return on equity of 284.70% and a net margin of 4.65%.

Ingevity Trading Down 0.1%

Shares of Ingevity stock traded down $0.08 during trading on Wednesday, hitting $73.55. The stock had a trading volume of 724,958 shares, compared to its average volume of 302,196. Ingevity has a 12 month low of $45.85 and a 12 month high of $79.29. The company has a debt-to-equity ratio of 22.52, a current ratio of 1.61 and a quick ratio of 1.15. The firm’s fifty day simple moving average is $70.69 and its 200-day simple moving average is $71.28. The stock has a market cap of $2.53 billion, a PE ratio of 15.40 and a beta of 1.12.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NGVT shares. Weiss Ratings downgraded Ingevity from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. Wall Street Zen cut shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $80.00.

Insider Buying and Selling

In related news, CEO David Li sold 5,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $75.83, for a total transaction of $379,150.00. Following the transaction, the chief executive officer directly owned 120,636 shares in the company, valued at approximately $9,147,827.88. This represents a 3.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 15,092 shares of company stock worth $1,147,773. Corporate insiders own 0.88% of the company’s stock.

Ingevity Company Profile

Ingevity Corporation (NYSE: NGVT) is a specialty chemicals and materials company that develops products designed to improve performance, efficiency, and sustainability across a range of industrial and consumer applications. Its offerings serve markets including automotive, transportation, agriculture, coatings, adhesives, pavement markings, and industrial manufacturing.

The company is best known for activated carbon products used in automotive vapor-emission control systems, where they help capture fuel vapors and reduce emissions.