Ingevity Corp (NASDAQ:NGVT) - Jefferies Group increased their FY2018 earnings per share estimates for Ingevity Corp in a report released on Wednesday. Jefferies Group analyst D. Rizzo now anticipates that the company will post earnings per share of $2.80 for the year, up from their prior estimate of $2.70. Jefferies Group currently has a “Buy” rating and a $71.00 target price on the stock. Jefferies Group also issued estimates for Ingevity Corp’s FY2019 earnings at $3.40 EPS and FY2020 earnings at $4.05 EPS.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Ingevity Corp from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Wednesday, July 5th. Aegis restated a “buy” rating and set a $67.00 price objective on shares of Ingevity Corp in a report on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $65.50.
WARNING: “FY2018 Earnings Forecast for Ingevity Corp (NGVT) Issued By Jefferies Group” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://stocknewstimes.com/2017/08/25/fy2018-earnings-forecast-for-ingevity-corp-ngvt-issued-by-jefferies-group.html.
Ingevity Corp (NASDAQ:NGVT) traded up 0.98% on Thursday, reaching $61.74. 87,809 shares of the company’s stock were exchanged. The company has a market cap of $2.60 billion and a PE ratio of 49.31. The firm’s 50 day moving average price is $57.93 and its 200 day moving average price is $58.35. Ingevity Corp has a 52-week low of $40.24 and a 52-week high of $65.02.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.08. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The business had revenue of $260.30 million for the quarter, compared to analysts’ expectations of $259.56 million. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis.
A number of institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of Ingevity Corp by 0.4% in the second quarter. PNC Financial Services Group Inc. now owns 4,716 shares of the company’s stock valued at $270,000 after buying an additional 21 shares during the period. Pinebridge Investments L.P. increased its position in shares of Ingevity Corp by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,548 shares of the company’s stock valued at $318,000 after buying an additional 57 shares during the period. Virginia Retirement Systems ET AL increased its position in shares of Ingevity Corp by 2.3% in the first quarter. Virginia Retirement Systems ET AL now owns 4,466 shares of the company’s stock valued at $272,000 after buying an additional 100 shares during the period. Arizona State Retirement System increased its position in shares of Ingevity Corp by 0.5% in the second quarter. Arizona State Retirement System now owns 22,000 shares of the company’s stock valued at $1,263,000 after buying an additional 100 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Ingevity Corp by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,670 shares of the company’s stock valued at $284,000 after buying an additional 110 shares during the period.
Ingevity Corp 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.
Receive News & Ratings for Ingevity Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingevity Corp and related companies with MarketBeat.com's FREE daily email newsletter.
