Ingevity Corp (NYSE:NGVT) – Equities research analysts at KeyCorp upped their Q1 2018 earnings per share (EPS) estimates for Ingevity in a research report issued to clients and investors on Thursday. KeyCorp analyst M. Sison now forecasts that the company will post earnings per share of $0.65 for the quarter, up from their previous estimate of $0.60. KeyCorp has a “Overweight” rating and a $89.00 price objective on the stock. KeyCorp also issued estimates for Ingevity’s Q3 2018 earnings at $1.03 EPS and FY2019 earnings at $4.00 EPS.
A number of other research firms have also recently weighed in on NGVT. Rowe reaffirmed an “outperform” rating and set a $90.00 price objective (up from $80.00) on shares of Ingevity in a research report on Thursday, November 30th. Jefferies Group increased their price objective on Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Loop Capital reaffirmed a “buy” rating and set a $80.00 price objective (up from $76.00) on shares of Ingevity in a research report on Tuesday, November 14th. BidaskClub raised Ingevity from a “hold” rating to a “buy” rating in a research report on Saturday, November 4th. Finally, Zacks Investment Research raised Ingevity from a “hold” rating to a “strong-buy” rating and set a $89.00 price objective for the company in a research report on Saturday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $84.14.
Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. Ingevity had a return on equity of 50.75% and a net margin of 12.99%. The company had revenue of $229.50 million during the quarter, compared to analysts’ expectations of $214.94 million. During the same period last year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis.
Several hedge funds have recently modified their holdings of NGVT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ingevity by 50.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,420 shares of the company’s stock worth $171,000 after buying an additional 807 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Ingevity during the 2nd quarter worth approximately $203,000. Jane Street Group LLC purchased a new position in shares of Ingevity during the 4th quarter worth approximately $206,000. Teacher Retirement System of Texas purchased a new position in shares of Ingevity during the 3rd quarter worth approximately $218,000. Finally, Greenwood Capital Associates LLC purchased a new position in shares of Ingevity during the 4th quarter worth approximately $223,000. 91.55% of the stock is owned by institutional investors and hedge funds.
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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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