Ingevity Corporation (NYSE: NGVT) stock jumped 0.77% on Tuesday to $52.26 against a previous-day closing price of $51.86. With 0.58 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.33 million shares. During the session, the Specialty Chemicals company that operates in wider Basic Materials sector, reached to the highest price of $52.70 whereas the lowest price it dropped to was $51.10. The 52-week range on NGVT shows that it touched its highest point at $90.81 and its lowest point at $49.38 during that stretch. It currently has a 1-year price target of $81.17. Beta for the stock currently stands at 1.85.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NGVT was up-trending over the past week, with a rise of 0.11%, but this was down by -27.77% over a month. Three-month performance dropped to -39.99% while six-month performance fell -32.13%. The stock lost -22.66% in the past year, while it has lost -25.81% so far this year. A look at the trailing 12-month EPS for NGVT yields 5.28 with Next year EPS estimates of 6.58. For the next quarter, that number is 1.43. This implies an EPS growth rate of 86.60% for this year and 19.21% for next year. EPS is expected to grow by 6.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 18.10%.
Float and Shares Shorts:
At present, 37.17 million NGVT shares are outstanding with a float of 36.09 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.85 million, which was 2.30% higher than short shares on Mar 30, 2023. In addition to Mr. John C. Fortson as the firm’s Pres, CEO & Director, Ms. Mary Dean Hall serves as its Exec. VP & CFO.
Other institutions hold 50.86% of NGVT, in contrast to 46.89% held by mutual funds. Shares owned by individuals account for 1.25%. As the largest shareholder in NGVT with 10.41% of the stake, BlackRock Fund Advisors holds 3,866,938 shares worth 3,866,938. A second-largest stockholder of NGVT, The Vanguard Group, Inc., holds 3,761,430 shares, controlling over 10.13% of the firm’s shares. Inclusive Capital Partners LP is the third largest shareholder in NGVT, holding 2,151,405 shares or 5.79% stake. With a 2.95% stake in NGVT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,096,972 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 2.95% of NGVT stock, is the second-largest Mutual Fund holder. It holds 1,096,229 shares valued at 78.64 million. Vanguard Small Cap Index Fund holds 2.50% of the stake in NGVT, owning 929,005 shares worth 66.65 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, NGVT reported revenue of $419.90M and operating income of $93.70M. The EBITDA in the recently reported quarter was $121.10M and diluted EPS was $1.54.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NGVT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NGVT analysts setting a high price target of $108.00 and a low target of $55.00, the average target price over the next 12 months is $77.29. Based on these targets, NGVT could surge 106.66% to reach the target high and rise by 5.24% to reach the target low. Reaching the average price target will result in a growth of 47.9% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded NGVT stock several times over the past three months with 21 Buys and 23 Sells. In these transactions, 60,400 shares were bought while 21,840 shares were sold. The number of buy transactions has increased to 36 while that of sell transactions has risen to 35 over the past year. The total number of shares bought during that period was 103,765 while 36,821 shares were sold.