Ingevity Co. (NYSE:NGVT – Get Rating) – Investment analysts at Jefferies Financial Group lowered their Q3 2022 EPS estimates for Ingevity in a research note issued on Wednesday, August 3rd. Jefferies Financial Group analyst D. Rizzo now forecasts that the company will earn $1.70 per share for the quarter, down from their previous forecast of $1.79. The consensus estimate for Ingevity’s current full-year earnings is $6.03 per share. Jefferies Financial Group also issued estimates for Ingevity’s FY2024 earnings at $6.65 EPS.
Ingevity (NYSE:NGVT – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.51. The firm had revenue of $382.80 million for the quarter, compared to analysts’ expectations of $341.58 million. Ingevity had a net margin of 9.61% and a return on equity of 33.97%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 earnings per share.
Ingevity Price Performance
Shares of Ingevity stock opened at $68.72 on Friday. The company has a current ratio of 2.54, a quick ratio of 0.86 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 18.47 and a beta of 1.85. Ingevity has a 1-year low of $56.31 and a 1-year high of $84.28. The firm’s 50-day moving average price is $65.76 and its two-hundred day moving average price is $65.09.
Hedge Funds Weigh In On Ingevity
A number of hedge funds and other institutional investors have recently bought and sold shares of NGVT. Bessemer Group Inc. boosted its stake in Ingevity by 87.6% in the fourth quarter. Bessemer Group Inc. now owns 394 shares of the company’s stock valued at $28,000 after acquiring an additional 184 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Ingevity in the fourth quarter worth $6,810,000. State of New Jersey Common Pension Fund D raised its holdings in Ingevity by 5.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 35,629 shares of the company’s stock worth $2,555,000 after purchasing an additional 1,753 shares during the period. Yousif Capital Management LLC acquired a new stake in Ingevity in the fourth quarter worth $1,499,000. Finally, Qube Research & Technologies Ltd raised its holdings in Ingevity by 28.9% in the fourth quarter. Qube Research & Technologies Ltd now owns 24,845 shares of the company’s stock worth $1,781,000 after purchasing an additional 5,563 shares during the period. 96.34% of the stock is owned by institutional investors.
Ingevity Company Profile
Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. 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, motorcycles, trucks, and boats.
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