Ingevity Corp (NYSE:NGVT) – SunTrust Banks boosted their FY2018 EPS estimates for shares of Ingevity in a research report issued on Thursday. SunTrust Banks analyst J. Sheehan now forecasts that the company will post earnings per share of $3.09 for the year, up from their previous estimate of $2.66. SunTrust Banks currently has a “Buy” rating and a $90.00 target price on the stock. SunTrust Banks also issued estimates for Ingevity’s FY2019 earnings at $3.78 EPS.
NGVT has been the subject of a number of other research reports. Loop Capital reduced their price target on Ingevity from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, December 26th. BidaskClub upgraded Ingevity from a “hold” rating to a “buy” rating in a research report on Saturday, November 4th. Jefferies Group boosted their price target on Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Zacks Investment Research lowered Ingevity from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Rowe reiterated an “outperform” rating and set a $90.00 price target (up previously from $80.00) on shares of Ingevity in a research report on Thursday, November 30th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ingevity presently has a consensus rating of “Buy” and an average target price of $84.14.
Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $214.94 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in NGVT. BlackRock Inc. lifted its holdings in shares of Ingevity by 4.9% in the fourth quarter. BlackRock Inc. now owns 5,415,950 shares of the company’s stock valued at $381,661,000 after buying an additional 253,722 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Ingevity by 150.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 381,760 shares of the company’s stock valued at $26,902,000 after buying an additional 229,540 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Ingevity by 269.9% in the fourth quarter. Two Sigma Investments LP now owns 239,239 shares of the company’s stock valued at $16,859,000 after buying an additional 174,555 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Ingevity by 3,203.4% in the third quarter. Russell Investments Group Ltd. now owns 157,342 shares of the company’s stock valued at $9,829,000 after buying an additional 152,579 shares during the period. Finally, WINTON GROUP Ltd lifted its holdings in shares of Ingevity by 194.7% in the fourth quarter. WINTON GROUP Ltd now owns 193,082 shares of the company’s stock valued at $13,606,000 after buying an additional 127,554 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.
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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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