$304.13 Million in Sales Expected for Ingevity Corp (NYSE:NGVT) This Quarter

Equities research analysts forecast that Ingevity Corp (NYSE:NGVT) will post sales of $304.13 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Ingevity’s earnings. The lowest sales estimate is $300.40 million and the highest is $311.50 million. Ingevity reported sales of $278.60 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.2%. The company is expected to report its next quarterly earnings results on Wednesday, February 12th.

According to Zacks, analysts expect that Ingevity will report full-year sales of $1.29 billion for the current year, with estimates ranging from $1.29 billion to $1.30 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.39 billion, with estimates ranging from $1.36 billion to $1.42 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Ingevity.

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

Several analysts recently weighed in on NGVT shares. Stifel Nicolaus decreased their price objective on Ingevity from $109.00 to $99.00 and set a “hold” rating for the company in a report on Wednesday, September 25th. Loop Capital lowered Ingevity from a “buy” rating to a “hold” rating and set a $96.00 target price for the company. in a research report on Friday. Wells Fargo & Co began coverage on Ingevity in a report on Tuesday, October 15th. They set an “outperform” rating and a $100.00 target price on the stock. SunTrust Banks reduced their price target on Ingevity to $120.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. They noted that the move was a valuation call. Finally, ValuEngine raised Ingevity from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.89.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in Ingevity by 9.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,017,270 shares of the company’s stock valued at $86,305,000 after buying an additional 83,898 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Ingevity by 33.9% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,190 shares of the company’s stock valued at $335,000 after purchasing an additional 808 shares during the period. State of Tennessee Treasury Department lifted its stake in shares of Ingevity by 4.4% in the 3rd quarter. State of Tennessee Treasury Department now owns 31,314 shares of the company’s stock valued at $2,657,000 after purchasing an additional 1,314 shares during the period. Ardevora Asset Management LLP bought a new stake in shares of Ingevity during the 3rd quarter valued at about $26,657,000. Finally, Braun Stacey Associates Inc. grew its stake in Ingevity by 10.4% during the second quarter. Braun Stacey Associates Inc. now owns 149,482 shares of the company’s stock worth $15,721,000 after purchasing an additional 14,085 shares during the period. Institutional investors own 92.70% of the company’s stock.

Shares of NYSE:NGVT traded down $1.10 during mid-day trading on Tuesday, reaching $88.71. 305,355 shares of the company’s stock were exchanged, compared to its average volume of 189,435. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.87 and a beta of 2.08. The business’s fifty day moving average price is $88.76 and its 200-day moving average price is $89.15. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.38 and a current ratio of 2.39. Ingevity has a twelve month low of $72.59 and a twelve month high of $120.41.

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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