FY2019 EPS Estimates for Ingevity (NGVT) Lowered by SunTrust Banks

Ingevity (NYSE:NGVT) – Equities research analysts at SunTrust Banks lowered their FY2019 earnings per share (EPS) estimates for Ingevity in a research note issued to investors on Wednesday, April 11th. SunTrust Banks analyst J. Sheehan now expects that the company will post earnings of $4.03 per share for the year, down from their previous forecast of $4.04. SunTrust Banks currently has a “Buy” rating and a $90.00 price target on the stock. SunTrust Banks also issued estimates for Ingevity’s FY2020 earnings at $5.11 EPS and FY2021 earnings at $5.63 EPS.

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Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The firm had revenue of $229.50 million during the quarter, compared to analyst estimates of $214.94 million. Ingevity had a return on equity of 50.74% and a net margin of 12.99%. Ingevity’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share.

NGVT has been the subject of a number of other research reports. Loop Capital lowered their price target on Ingevity from $83.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, December 26th. Jefferies Group boosted their price target on Ingevity to $92.00 and gave the company a “buy” rating in a report on Thursday, March 8th. Zacks Investment Research lowered Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Buckingham Research upgraded Ingevity from a “neutral” rating to a “buy” rating and boosted their price target for the company from $64.00 to $92.00 in a report on Thursday, March 8th. Finally, KeyCorp reiterated an “overweight” rating and issued a $89.00 price target (up previously from $78.00) on shares of Ingevity in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $86.13.

Shares of NYSE NGVT opened at $79.59 on Monday. The company has a quick ratio of 1.36, a current ratio of 2.41 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $3,272.19, a P/E ratio of 30.85, a PEG ratio of 1.94 and a beta of 1.04. Ingevity has a 52-week low of $53.62 and a 52-week high of $82.10.

A number of institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB purchased a new stake in Ingevity during the fourth quarter worth $263,000. Segall Bryant & Hamill LLC lifted its holdings in Ingevity by 10.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 85,802 shares of the company’s stock worth $6,046,000 after buying an additional 8,017 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Ingevity during the fourth quarter worth $1,313,000. Gotham Asset Management LLC lifted its holdings in Ingevity by 527.8% during the fourth quarter. Gotham Asset Management LLC now owns 23,518 shares of the company’s stock worth $1,657,000 after buying an additional 19,772 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Ingevity during the fourth quarter worth $206,000. Institutional investors own 92.40% of the company’s stock.

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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 wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

Earnings History and Estimates for Ingevity (NYSE:NGVT)

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