Ingevity (NYSE:NGVT) Issues Earnings Results, Beats Expectations By $0.07 EPS

Ingevity (NYSE:NGVT) released its quarterly earnings data on Wednesday. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.07, FiscalAI reports. Ingevity had a net margin of 5.28% and a return on equity of 469.87%. The company had revenue of $305.10 million during the quarter, compared to analyst estimates of $303.91 million.

Ingevity Stock Down 5.7%

NYSE:NGVT traded down $3.65 during midday trading on Friday, reaching $60.05. 620,946 shares of the stock traded hands, compared to its average volume of 293,303. Ingevity has a 12-month low of $45.85 and a 12-month high of $79.29. The business has a 50-day moving average of $70.58 and a two-hundred day moving average of $71.26. The company has a debt-to-equity ratio of 22.52, a quick ratio of 1.15 and a current ratio of 1.61. The stock has a market capitalization of $2.06 billion, a PE ratio of 35.33 and a beta of 1.12.

Insider Transactions at Ingevity

In other Ingevity news, CEO David Li sold 5,000 shares of Ingevity stock in a transaction on Monday, August 17th. The shares were sold at an average price of $75.83, for a total value of $379,150.00. Following the transaction, the chief executive officer directly owned 120,636 shares of the company’s stock, valued at approximately $9,147,827.88. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,092 shares of company stock valued at $1,147,773 over the last 90 days. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NGVT has been the topic of a number of analyst reports. Wall Street Zen downgraded Ingevity from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings lowered Ingevity from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.00.

About Ingevity

Ingevity Corporation (NYSE: NGVT) is a specialty chemicals and materials company that develops products designed to improve performance, efficiency, and sustainability across a range of industrial and consumer applications. Its offerings serve markets including automotive, transportation, agriculture, coatings, adhesives, pavement markings, and industrial manufacturing.

The company is best known for activated carbon products used in automotive vapor-emission control systems, where they help capture fuel vapors and reduce emissions.