$402.35 Million in Sales Expected for Ingevity Co. (NYSE:NGVT) This Quarter

Wall Street brokerages predict that Ingevity Co. (NYSE:NGVT – Get Rating) will announce sales of $402.35 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ingevity’s earnings. The lowest sales estimate is $398.40 million and the highest is $406.30 million. Ingevity reported sales of $358.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.3%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Ingevity will report full-year sales of $1.59 billion for the current fiscal year. For the next financial year, analysts expect that the company will post sales of $1.66 billion, with estimates ranging from $1.65 billion to $1.68 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Ingevity.

Ingevity (NYSE:NGVT – Get Rating) last posted its earnings results on Wednesday, May 4th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.58. The company had revenue of $382.80 million for the quarter, compared to analysts’ expectations of $341.58 million. Ingevity had a net margin of 8.95% and a return on equity of 32.84%. Ingevity’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.27 earnings per share.

Several brokerages have recently issued reports on NGVT. Zacks Investment Research raised shares of Ingevity from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Sunday, February 27th. StockNews.com raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 12th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $88.20.

Shares of NGVT opened at $67.57 on Friday. The stock has a market capitalization of $2.62 billion, a PE ratio of 20.60 and a beta of 1.97. Ingevity has a 1 year low of $56.31 and a 1 year high of $88.58. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.86 and a current ratio of 1.33. The company’s 50-day simple moving average is $63.68 and its 200-day simple moving average is $68.59.

Institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. increased 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 purchasing an additional 184 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Ingevity during the fourth quarter worth approximately $53,000. Parallel Advisors LLC grew its position in shares of Ingevity by 521.7% during the first quarter. Parallel Advisors LLC now owns 1,088 shares of the company’s stock worth $71,000 after acquiring an additional 913 shares during the last quarter. Tompkins Financial Corp purchased a new position in shares of Ingevity during the first quarter worth approximately $96,000. Finally, LPL Financial LLC purchased a new position in shares of Ingevity during the third quarter worth approximately $230,000. Institutional investors own 96.34% of the company’s stock.

About Ingevity (Get Rating)

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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