$289.00 Million in Sales Expected for Ingevity Co. (NYSE:NGVT) This Quarter

Wall Street brokerages predict that Ingevity Co. (NYSE:NGVT) will announce $289.00 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Ingevity’s earnings. The highest sales estimate is $292.00 million and the lowest is $286.00 million. Ingevity reported sales of $325.60 million during the same quarter last year, which indicates a negative year over year growth rate of 11.2%. The company is expected to issue its next quarterly earnings results on Wednesday, February 9th.

On average, analysts expect that Ingevity will report full-year sales of $1.35 billion for the current financial year, with estimates ranging from $1.34 billion to $1.36 billion. For the next financial year, analysts expect that the business will report sales of $1.42 billion, with estimates ranging from $1.40 billion to $1.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Ingevity.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, October 27th. The company reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.08. The company had revenue of $376.80 million during the quarter, compared to analysts’ expectations of $354.29 million. Ingevity had a return on equity of 35.46% and a net margin of 10.11%. Ingevity’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.79 EPS.

Several equities research analysts recently issued reports on NGVT shares. Loop Capital cut their target price on shares of Ingevity from $92.00 to $81.00 and set a “hold” rating for the company in a research note on Thursday, November 18th. Wells Fargo & Company raised their price objective on shares of Ingevity from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday, October 29th. TheStreet downgraded shares of Ingevity from a “b” rating to a “c” rating in a research report on Wednesday, October 27th. Finally, Oppenheimer raised their price objective on shares of Ingevity from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, July 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $91.60.

Shares of NYSE NGVT traded down $1.18 during mid-day trading on Thursday, hitting $77.93. The company had a trading volume of 74,745 shares, compared to its average volume of 227,710. The company has a market capitalization of $3.06 billion, a PE ratio of 22.79 and a beta of 2.18. The firm has a 50-day simple moving average of $76.78 and a two-hundred day simple moving average of $79.97. The company has a current ratio of 2.91, a quick ratio of 1.99 and a debt-to-equity ratio of 1.95. Ingevity has a one year low of $63.43 and a one year high of $89.55.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGVT. Teacher Retirement System of Texas raised its position in shares of Ingevity by 7,213.5% in the second quarter. Teacher Retirement System of Texas now owns 339,348 shares of the company’s stock valued at $27,609,000 after buying an additional 334,708 shares in the last quarter. Maple Rock Capital Partners Inc. raised its position in shares of Ingevity by 60.4% in the second quarter. Maple Rock Capital Partners Inc. now owns 709,980 shares of the company’s stock valued at $57,764,000 after buying an additional 267,400 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Ingevity by 90.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 381,863 shares of the company’s stock valued at $27,254,000 after buying an additional 181,245 shares in the last quarter. Millennium Management LLC raised its position in shares of Ingevity by 119.0% in the third quarter. Millennium Management LLC now owns 272,348 shares of the company’s stock valued at $19,437,000 after buying an additional 147,997 shares in the last quarter. Finally, Ararat Capital Management LP raised its position in shares of Ingevity by 76.0% in the third quarter. Ararat Capital Management LP now owns 317,901 shares of the company’s stock valued at $22,689,000 after buying an additional 137,282 shares in the last quarter. Institutional investors own 91.87% of the company’s stock.

Ingevity Company Profile

Ingevity Corp. engages in the manufacture of specialty chemicals and carbon materials. It operates through the following segments: Performance Chemicals and Performance Materials. The Performance Materials segment consists of automotive technologies and process purifications product families. Automotive technologies produces automotive carbon products used 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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