$290.97 Million in Sales Expected for Ingevity Corp (NYSE:NGVT) This Quarter

Equities analysts expect that Ingevity Corp (NYSE:NGVT) will announce $290.97 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Ingevity’s earnings. The highest sales estimate is $299.20 million and the lowest is $284.00 million. Ingevity reported sales of $276.80 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The company is expected to announce its next quarterly earnings results on Wednesday, May 6th.

On average, analysts expect that Ingevity will report full-year sales of $1.32 billion for the current financial year. For the next year, analysts anticipate that the business will post sales of $1.43 billion, with estimates ranging from $1.39 billion to $1.49 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Ingevity.

Ingevity (NYSE:NGVT) last issued its earnings results on Monday, February 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.07. The business had revenue of $303.40 million for the quarter, compared to analyst estimates of $305.09 million. Ingevity had a net margin of 14.21% and a return on equity of 51.91%. Ingevity’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 earnings per share.

Several brokerages recently issued reports on NGVT. SunTrust Banks cut their target price on shares of Ingevity to $120.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. They noted that the move was a valuation call. ValuEngine raised shares of Ingevity from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Wells Fargo & Co cut their target price on shares of Ingevity from $100.00 to $83.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. BMO Capital Markets reissued an “outperform” rating and set a $111.00 target price on shares of Ingevity in a research note on Wednesday, February 5th. Finally, Loop Capital raised shares of Ingevity from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $108.67.

In other Ingevity news, CFO John C. Fortson acquired 2,290 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were purchased at an average cost of $65.50 per share, with a total value of $149,995.00. Following the completion of the purchase, the chief financial officer now owns 41,910 shares of the company’s stock, valued at $2,745,105. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO D Michael Wilson acquired 7,500 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was acquired at an average cost of $65.12 per share, for a total transaction of $488,400.00. The disclosure for this purchase can be found here. 0.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NGVT. Clear Harbor Asset Management LLC bought a new position in shares of Ingevity during the fourth quarter valued at about $25,000. Americana Partners LLC bought a new position in shares of Ingevity during the fourth quarter valued at about $40,000. Quest Capital Management Inc. ADV bought a new position in shares of Ingevity during the third quarter valued at about $74,000. Permanens Capital L.P. bought a new position in shares of Ingevity during the fourth quarter valued at about $98,000. Finally, Valeo Financial Advisors LLC lifted its position in shares of Ingevity by 13.4% during the third quarter. Valeo Financial Advisors LLC now owns 1,691 shares of the company’s stock valued at $143,000 after purchasing an additional 200 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors.

NYSE NGVT traded up $0.54 on Friday, hitting $66.84. 351,700 shares of the company were exchanged, compared to its average volume of 474,068. The company has a market cap of $2.75 billion, a PE ratio of 15.40, a PEG ratio of 1.24 and a beta of 2.11. Ingevity has a 12 month low of $62.53 and a 12 month high of $120.41. The stock has a fifty day moving average of $76.47 and a 200-day moving average of $83.51. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 3.01.

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 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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