$210.65 Million in Sales Expected for Ingevity Corp (NGVT) This Quarter

Wall Street analysts expect Ingevity Corp (NYSE:NGVT) to post sales of $210.65 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ingevity’s earnings, with estimates ranging from $209.60 million to $211.70 million. Ingevity reported sales of $210.90 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.1%. The business is scheduled to issue its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Ingevity will report full year sales of $210.65 million for the current financial year, with estimates ranging from $952.50 million to $965.30 million. For the next fiscal year, analysts expect that the business will post sales of $1.12 billion per share, with estimates ranging from $1.11 billion to $1.12 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ingevity.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. Ingevity had a return on equity of 58.14% and a net margin of 9.86%. The business had revenue of $264.10 million during the quarter, compared to analyst estimates of $260.88 million. During the same period in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year.

A number of equities analysts recently issued reports on the company. Rowe reissued an “outperform” rating and issued a $90.00 price objective (up from $80.00) on shares of Ingevity in a report on Thursday, November 30th. BidaskClub raised Ingevity from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. Loop Capital reissued a “buy” rating and issued a $80.00 price objective (up from $76.00) on shares of Ingevity in a report on Tuesday, November 14th. Zacks Investment Research lowered Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, KeyCorp reissued a “buy” rating and issued a $75.00 price objective (up from $70.00) on shares of Ingevity in a report on Thursday, October 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $78.17.

Hedge funds and other institutional investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC bought a new position in Ingevity during the 3rd quarter valued at $216,000. Teacher Retirement System of Texas bought a new position in Ingevity during the 3rd quarter valued at $218,000. Cubist Systematic Strategies LLC bought a new position in Ingevity during the 2nd quarter valued at $203,000. Balyasny Asset Management LLC bought a new position in Ingevity during the 2nd quarter valued at $213,000. Finally, Everence Capital Management Inc. bought a new position in Ingevity during the 3rd quarter valued at $242,000. 91.09% of the stock is owned by hedge funds and other institutional investors.

Ingevity (NYSE NGVT) opened at $74.55 on Friday. Ingevity has a fifty-two week low of $51.01 and a fifty-two week high of $80.18. The stock has a market capitalization of $3,139.67, a P/E ratio of 33.58, a P/E/G ratio of 2.14 and a beta of 1.93. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.36 and a quick ratio of 1.34.

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About Ingevity

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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