Ingevity Corp (NASDAQ:NGVT) had its price objective lifted by equities research analysts at Jefferies Group LLC from $71.00 to $84.00 in a report released on Friday. The firm currently has a “buy” rating on the stock. Jefferies Group LLC’s price target suggests a potential upside of 11.27% from the company’s current price. Jefferies Group also issued estimates for Ingevity Corp’s Q4 2017 earnings at $0.42 EPS, FY2017 earnings at $2.55 EPS, FY2018 earnings at $2.80 EPS, FY2019 earnings at $3.55 EPS and FY2020 earnings at $4.35 EPS.
Other research analysts have also issued research reports about the company. BidaskClub lowered Ingevity Corp from a “sell” rating to a “strong sell” rating in a research report on Friday, September 15th. Loop Capital reissued a “buy” rating and issued a $76.00 target price on shares of Ingevity Corp in a report on Wednesday, October 18th. Zacks Investment Research lowered Ingevity Corp from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, KeyCorp reissued a “buy” rating and issued a $75.00 target price (up previously from $70.00) on shares of Ingevity Corp in a report on Thursday, October 5th. Seven investment analysts have rated the stock with a buy rating, Ingevity Corp has a consensus rating of “Buy” and an average target price of $72.50.
Ingevity Corp (NASDAQ:NGVT) traded up $2.71 on Friday, reaching $75.49. The company’s stock had a trading volume of 359,790 shares, compared to its average volume of 227,017. Ingevity Corp has a 52 week low of $43.77 and a 52 week high of $75.60.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.75 by $0.11. The company had revenue of $264.10 million for the quarter, compared to analyst estimates of $260.88 million. Ingevity Corp had a return on equity of 76.78% and a net margin of 13.75%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share.
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Institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC increased its stake in Ingevity Corp by 0.9% in the first quarter. Teachers Advisors LLC now owns 89,819 shares of the company’s stock valued at $5,465,000 after purchasing an additional 779 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ingevity Corp by 1.0% in the first quarter. Vanguard Group Inc. now owns 3,772,263 shares of the company’s stock valued at $229,543,000 after acquiring an additional 37,842 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Ingevity Corp by 7.3% in the first quarter. Geode Capital Management LLC now owns 325,631 shares of the company’s stock valued at $19,814,000 after acquiring an additional 22,143 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ingevity Corp by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 447,092 shares of the company’s stock valued at $27,206,000 after acquiring an additional 6,728 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Ingevity Corp by 18.2% in the first quarter. UBS Group AG now owns 7,451 shares of the company’s stock valued at $454,000 after acquiring an additional 1,148 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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