Equities analysts expect Ingevity Corp (NYSE:NGVT) to report sales of $308.15 million for the current quarter, according to Zacks. Two analysts have made estimates for Ingevity’s earnings, with the highest sales estimate coming in at $312.00 million and the lowest estimate coming in at $304.30 million. Ingevity reported sales of $260.30 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.4%. The firm is expected to issue its next earnings report after the market closes on Wednesday, July 25th.
According to Zacks, analysts expect that Ingevity will report full year sales of $1.11 billion for the current fiscal year, with estimates ranging from $1.10 billion to $1.12 billion. For the next year, analysts expect that the firm will post sales of $1.24 billion per share, with estimates ranging from $1.19 billion to $1.30 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Ingevity.
Get Ingevity alerts:Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.16. Ingevity had a return on equity of 48.09% and a net margin of 13.96%. The firm had revenue of $235.20 million during the quarter, compared to analyst estimates of $231.76 million. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis.
A number of research firms have recently commented on NGVT. KeyCorp raised their price target on Ingevity from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, May 4th. Oppenheimer reaffirmed a “buy” rating on shares of Ingevity in a report on Wednesday, May 9th. TheStreet raised Ingevity from a “c” rating to a “b-” rating in a report on Monday, April 30th. Zacks Investment Research lowered Ingevity from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 15th. Finally, ValuEngine raised Ingevity from a “hold” rating to a “buy” rating in a report on Saturday, June 16th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Ingevity currently has an average rating of “Buy” and a consensus target price of $89.50.
Several hedge funds have recently modified their holdings of NGVT. Mount Yale Investment Advisors LLC purchased a new stake in shares of Ingevity in the first quarter worth $147,000. Quantbot Technologies LP raised its position in shares of Ingevity by 1,735.5% in the first quarter. Quantbot Technologies LP now owns 2,588 shares of the company’s stock worth $190,000 after buying an additional 2,447 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Ingevity in the fourth quarter worth $206,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Ingevity in the fourth quarter worth $263,000. Finally, Cigna Investments Inc. New purchased a new stake in shares of Ingevity in the first quarter worth $355,000. Institutional investors own 90.78% of the company’s stock.
Shares of Ingevity stock traded up $1.85 during trading hours on Wednesday, reaching $85.03. The company had a trading volume of 248,117 shares, compared to its average volume of 249,210. Ingevity has a one year low of $55.07 and a one year high of $85.22. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.67 and a quick ratio of 1.39. The firm has a market capitalization of $3.50 billion, a P/E ratio of 32.96, a PEG ratio of 2.01 and a beta of 0.94.
About Ingevity
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 wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.
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