Ingevity (NGVT) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS
Ingevity (NYSE:NGVT) posted its quarterly earnings data on Tuesday. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.09, Bloomberg Earnings reports. The business had revenue of $229.50 million during the quarter, compared to analyst estimates of $214.94 million. Ingevity had a net margin of 9.86% and a return on equity of 58.14%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share.
Shares of Ingevity (NYSE:NGVT) traded down $0.08 during trading hours on Tuesday, reaching $72.27. 191,754 shares of the company traded hands, compared to its average volume of 214,993. The firm has a market capitalization of $3,050.00 and a PE ratio of 32.35. Ingevity has a 52-week low of $52.79 and a 52-week high of $80.18. The company has a current ratio of 2.36, a quick ratio of 1.34 and a debt-to-equity ratio of 1.92.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Loop Capital reduced their target price on shares of Ingevity from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, December 26th. Rowe reaffirmed an “outperform” rating and issued a $90.00 target price (up previously from $80.00) on shares of Ingevity in a report on Thursday, November 30th. BidaskClub raised shares of Ingevity from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. Finally, Jefferies Group raised their target price on shares of Ingevity from $71.00 to $84.00 and gave the company a “buy” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Ingevity presently has a consensus rating of “Buy” and an average price target of $78.17.
Ingevity Company Profile
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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