Ingevity Corp (NYSE:NGVT) – Stock analysts at SunTrust Banks decreased their FY2020 earnings estimates for Ingevity in a research report issued to clients and investors on Tuesday, January 14th. SunTrust Banks analyst J. Sheehan now forecasts that the company will post earnings of $5.57 per share for the year, down from their previous estimate of $5.89. SunTrust Banks has a “Buy” rating and a $120.00 price objective on the stock. SunTrust Banks also issued estimates for Ingevity’s FY2021 earnings at $6.42 EPS and FY2022 earnings at $7.03 EPS.

NGVT has been the subject of several other reports. Wells Fargo & Co began coverage on shares of Ingevity in a research note on Tuesday, October 15th. They issued an “outperform” rating and a $100.00 target price for the company. Loop Capital cut Ingevity from a “buy” rating to a “hold” rating and set a $96.00 price target for the company. in a report on Friday, December 6th. Stifel Nicolaus reduced their price target on Ingevity from $109.00 to $99.00 and set a “hold” rating for the company in a report on Wednesday, September 25th. BMO Capital Markets lowered their price target on Ingevity to $121.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. Finally, ValuEngine upgraded Ingevity from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $111.89.

NYSE NGVT opened at $83.27 on Thursday. The company has a market cap of $3.44 billion, a PE ratio of 20.16, a PEG ratio of 1.42 and a beta of 2.04. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 3.01. Ingevity has a 12 month low of $72.59 and a 12 month high of $120.41. The stock has a 50 day moving average of $86.80 and a 200-day moving average of $88.10.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.04. The firm had revenue of $359.90 million during the quarter, compared to the consensus estimate of $365.44 million. Ingevity had a return on equity of 53.69% and a net margin of 14.31%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share.

Several large investors have recently added to or reduced their stakes in NGVT. Massachusetts Financial Services Co. MA increased its holdings in shares of Ingevity by 9.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,017,270 shares of the company’s stock worth $86,305,000 after purchasing an additional 83,898 shares during the period. State of Tennessee Treasury Department boosted its stake in shares of Ingevity by 4.4% in the third quarter. State of Tennessee Treasury Department now owns 31,314 shares of the company’s stock valued at $2,657,000 after buying an additional 1,314 shares during the period. Ardevora Asset Management LLP acquired a new stake in Ingevity during the third quarter worth approximately $26,657,000. Squarepoint Ops LLC grew its position in Ingevity by 579.5% during the third quarter. Squarepoint Ops LLC now owns 36,913 shares of the company’s stock worth $3,132,000 after buying an additional 31,481 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Ingevity by 668.5% during the 3rd quarter. Stifel Financial Corp now owns 104,738 shares of the company’s stock worth $8,910,000 after acquiring an additional 91,109 shares during the period. Hedge funds and other institutional investors own 92.27% 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 hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Earnings History and Estimates for Ingevity (NYSE:NGVT)

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