FY2017 EPS Estimates for Ingevity Corp Lifted by Analyst (NGVT)

Ingevity Corp (NASDAQ:NGVT) – Equities research analysts at Oppenheimer Holdings raised their FY2017 earnings per share estimates for Ingevity Corp in a note issued to investors on Thursday. Oppenheimer Holdings analyst I. Zaffino now expects that the company will post earnings per share of $2.48 for the year, up from their previous estimate of $2.40. Oppenheimer Holdings also issued estimates for Ingevity Corp’s Q4 2017 earnings at $0.35 EPS and FY2018 earnings at $3.13 EPS.

Other equities analysts have also issued reports about the stock. KeyCorp restated a “buy” rating and issued a $75.00 price objective (up from $70.00) on shares of Ingevity Corp in a report on Thursday, October 5th. Zacks Investment Research upgraded shares of Ingevity Corp from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a report on Wednesday, October 4th. Loop Capital started coverage on shares of Ingevity Corp in a report on Thursday, September 28th. They issued a “buy” rating and a $73.00 price objective for the company. Jefferies Group LLC set a $71.00 price objective on shares of Ingevity Corp and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, BidaskClub upgraded shares of Ingevity Corp from a “hold” rating to a “buy” rating in a report on Saturday. Seven research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $72.50.

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Ingevity Corp (NGVT) opened at $75.49 on Monday. Ingevity Corp has a 1-year low of $43.77 and a 1-year high of $75.60.

Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The company had revenue of $264.10 million during the quarter, compared to analyst estimates of $260.88 million. During the same period in the previous year, the business earned $0.64 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis.

Institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership purchased a new stake in Ingevity Corp during the 2nd quarter valued at $333,000. Chilton Investment Co. LLC raised its stake in Ingevity Corp by 26.3% during the 2nd quarter. Chilton Investment Co. LLC now owns 1,066,649 shares of the company’s stock valued at $61,226,000 after buying an additional 221,932 shares during the last quarter. DSAM Partners London Ltd raised its stake in Ingevity Corp by 72.3% during the 2nd quarter. DSAM Partners London Ltd now owns 152,318 shares of the company’s stock valued at $8,743,000 after buying an additional 63,917 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Ingevity Corp by 454.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 49,555 shares of the company’s stock valued at $2,844,000 after buying an additional 40,617 shares during the last quarter. Finally, UBS Group AG raised its stake in Ingevity Corp by 18.2% during the 1st quarter. UBS Group AG now owns 7,451 shares of the company’s stock valued at $454,000 after buying 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.

Earnings History and Estimates for Ingevity Corp (NASDAQ:NGVT)

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