Ingevity Corp (NASDAQ:NGVT) – Investment analysts at Oppenheimer Holdings reduced their FY2017 earnings estimates for Ingevity Corp in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst I. Zaffino now expects that the company will earn $2.41 per share for the year, down from their prior estimate of $2.50. Oppenheimer Holdings also issued estimates for Ingevity Corp’s FY2018 earnings at $2.77 EPS.
Ingevity Corp (NASDAQ:NGVT) last posted its earnings results on Wednesday, May 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The company had revenue of $218.50 million for the quarter, compared to analyst estimates of $206.90 million. WARNING: This piece of content was reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.chaffeybreeze.com/2017/05/20/fy2017-eps-estimates-for-ingevity-corp-ngvt-reduced-by-analyst-updated.html.
A number of other equities research analysts also recently weighed in on NGVT. Jefferies Group LLC set a $64.00 target price on Ingevity Corp and gave the stock a “buy” rating in a report on Saturday, February 25th. Zacks Investment Research downgraded Ingevity Corp from a “buy” rating to a “hold” rating in a report on Tuesday, February 28th. Finally, Aegis reiterated a “buy” rating and issued a $67.00 target price (up from $60.00) on shares of Ingevity Corp in a report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Ingevity Corp has an average rating of “Buy” and a consensus price target of $57.17.
Shares of Ingevity Corp (NASDAQ:NGVT) traded up 0.80% during trading on Monday, hitting $58.96. The company had a trading volume of 35,717 shares. The stock has a market capitalization of $2.48 billion and a price-to-earnings ratio of 55.62. Ingevity Corp has a 12-month low of $24.25 and a 12-month high of $65.02. The stock has a 50-day moving average of $60.48 and a 200 day moving average of $54.66.
A number of large investors have recently modified their holdings of NGVT. Kornitzer Capital Management Inc. KS increased its stake in shares of Ingevity Corp by 10.0% in the third quarter. Kornitzer Capital Management Inc. KS now owns 279,309 shares of the company’s stock worth $12,876,000 after buying an additional 25,477 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Ingevity Corp by 12.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the company’s stock worth $227,000 after buying an additional 545 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Ingevity Corp by 22.6% in the third quarter. UBS Asset Management Americas Inc. now owns 33,667 shares of the company’s stock worth $1,552,000 after buying an additional 6,213 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ingevity Corp by 68.7% in the third quarter. JPMorgan Chase & Co. now owns 97,239 shares of the company’s stock worth $4,483,000 after buying an additional 39,590 shares during the last quarter. Finally, BlackRock Advisors LLC increased its stake in shares of Ingevity Corp by 4.0% in the third quarter. BlackRock Advisors LLC now owns 31,420 shares of the company’s stock worth $1,448,000 after buying an additional 1,208 shares during the last quarter.
About Ingevity Corp
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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