Ingevity (NYSE:NGVT) Announces Earnings Results, Beats Expectations By $0.07 EPS

Ingevity (NYSE:NGVT) released its quarterly earnings data on Wednesday. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.56 by $0.07, FiscalAI reports. Ingevity had a net margin of 4.65% and a return on equity of 284.70%. The business had revenue of $305.10 million during the quarter, compared to analyst estimates of $303.91 million.

Ingevity Trading Down 13.2%

NGVT stock traded down $9.76 during trading on Thursday, hitting $63.97. The company had a trading volume of 896,272 shares, compared to its average volume of 290,105. Ingevity has a 52-week low of $45.85 and a 52-week high of $79.29. The company has a 50 day simple moving average of $70.69 and a 200-day simple moving average of $71.28. The firm has a market capitalization of $2.20 billion, a P/E ratio of 43.52 and a beta of 1.12. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 22.52.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NGVT. Wall Street Zen lowered Ingevity from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings cut shares of Ingevity from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $80.00.

Insider Activity at Ingevity

In related news, CEO David Li sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $75.83, for a total value of $379,150.00. Following the completion of the sale, the chief executive officer owned 120,636 shares in the company, valued at approximately $9,147,827.88. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,092 shares of company stock worth $1,147,773 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Ingevity Company Profile

Ingevity Corporation (NYSE: NGVT) is a specialty chemicals and materials company that develops products designed to improve performance, efficiency, and sustainability across a range of industrial and consumer applications. Its offerings serve markets including automotive, transportation, agriculture, coatings, adhesives, pavement markings, and industrial manufacturing.

The company is best known for activated carbon products used in automotive vapor-emission control systems, where they help capture fuel vapors and reduce emissions.