CJS Securities upgraded Ingevity from Market Perform to Market Outperform and set a new price target of $58.00

Jefferies upgraded Ingevity from Hold to Buy and set a new price target of $62.00 from $52.00 previously

CJS Securities downgraded Ingevity from Market Outperform to Market Perform and set a new price target of $49.00

Loop Capital downgraded Ingevity from Buy to Hold and set a new price target of $53.00 from $62.00 previously

BMO Capital Markets downgraded Ingevity from Outperform to Market Perform and set a new price target of $60.00 from $71.00 previously

Loop Capital upgraded Ingevity from Hold to Buy and set a new price target of $75.00 from $64.00 previously

Loop Capital downgraded Ingevity from Buy to Hold and set a new price target of $64.00 from $92.00 previously

Loop Capital upgraded Ingevity from Hold to Buy and set a new price target of $100.00 from $81.00 previously

BMO Capital Markets resumed coverage of Ingevity with a rating of Outperform and set a new price target of $87.00 from $89.00 previously

Wells Fargo reiterated coverage of Ingevity with a rating of Equal-Weight and set a new price target of $84.00 from $82.00 previously

HIGHLIGHTS: Net sales of $376.9 million, down 16% compared to prior year, primarily due to repositioning actions in Performance Chemicals Net loss of $107.2 million and diluted loss per share of $2.95 reflects before-tax restructuring charges of $86.9 million and contract termination fees of $100.0 million; adjusted earnings of $40.2 million and diluted adjusted earnings per share (EPS) of $1.10 Adjusted EBITDA of $106.4 million and adjusted EBITDA margin of 28.2% Operating cash flow of $46.5 million with free cash flow of $28.5 million Affirms full year guidance of sales between $1.40 billion and $1.50 billion and adjusted EBITDA between $350 million and $360 million The result

Ingevity Corporation (NYSE:NGVT) announced today that it will release its third-quarter 2024 earnings after the stock market close on Tuesday, October 29, 2024. The company will host a live webcast on Wednesday, October 30, at 10:00 a.m. (Eastern) to discuss third-quarter 2024 fiscal results. The webcast can be accessed here or on the investors section of Ingevity's website. You may also listen to the conference call by dialing 833 470 1428 (inside the U.S.) and entering access code 381718. Callers outside the U.S. can find global dial-in numbers here. For those unable to join the live event, a recording will be available beginning at approximately 2:00 p.m. (Eastern) on October 30, 2024,

Ingevity Corporation (NYSE:NGVT) today announced that John Fortson has departed as president and chief executive officer and from the board of directors of the company, effective as of October 2, 2024. The board of directors has appointed current board director, Luis Fernandez-Moreno as interim president and chief executive officer while it conducts a search for a permanent replacement. "On behalf of the entire board, I want to thank John for his leadership and dedication to Ingevity over the past nine years," said Jean Blackwell, chair of the board of directors. "Under John's guidance, Ingevity successfully transitioned into a standalone public company, expanded its global footprint and e

Ingevity Corporation (NYSE:NGVT) will launch Capa® HS, the next generation of polycaprolactone polyols for enhanced hydrolytic resistance in polyurethanes, at the Center for the Polyurethanes Industry's annual Polyurethanes Technical Conference in Atlanta, Georgia, from September 30-October 2, 2024. The Capa HS product series can extend the life of polyurethane elastomers in extreme weather condition applications that face exposure to harsh, wet and humid environments. Elastomers are used throughout the offshore, mining and petroleum industries in structures such as oil rigs and windfarms, in seals, bearings and joints, and as corrosion protection where durability and resistance to water a

Ingevity Corporation (NYSE:NGVT) will participate in the FEICA European Adhesive & Sealant Conference and EXPO 2024 in Noordwijkerhout, the Netherlands, from September 11-13, 2024. The company will launch Capa® L, the next generation of sustainable and innovative polycaprolactone polyols for polyurethane adhesives that can be used in flexible food packaging, construction and industrial applications. "The latest generation of Capa polyols provides formulators with the performance and sustainability benefits they are seeking," said Ingevity senior vice president and president, Advanced Polymer Technologies, Steve Hulme. "We're excited to debut our newest Capa polyol technology, Capa L, which

Will optimize existing manufacturing footprint by consolidating oleo-based chemical refining with existing crude tall oil refining at the company's North Charleston, South Carolina, facility, and closing its Crossett, Arkansas, facility in August Manufacturing consolidation will result in approximately $20 million to $25 million in annual savings beginning in 2025 Executes corporate and business-related cost reduction actions resulting in additional annual savings of approximately $10 million beginning in 2025 Expects charges associated with these actions of approximately $100 million, with approximately $65 million to be non-cash Continues to evaluate the Performance Chemicals

HIGHLIGHTS: Net sales of $390.6 million, down 19% compared to prior year Net loss of $283.7 million and diluted loss per share of $7.81 primarily due to a Performance Chemicals non-cash goodwill impairment charge; adjusted earnings of $36.8 million and diluted adjusted earnings per share (EPS) of $1.01 Adjusted EBITDA of $101.3 million and adjusted EBITDA margin of 25.9% Operating cash flow of $29.7 million with free cash flow of $11.6 million In July, the company took further actions to reposition its Performance Chemicals segment, including the termination of a long-term crude tall oil supply contract, the announced closure of its Crossett, Arkansas, facility, to consolidat

Ingevity Corporation (NYSE:NGVT) announced today that it will release its second-quarter 2024 earnings after the stock market close on Wednesday, July 31, 2024. The company will host a live webcast on Thursday, August 1, at 11:00 a.m. (Eastern) to discuss second-quarter 2024 fiscal results. The webcast can be accessed here or on the investors section of Ingevity's website. You may also listen to the conference call by dialing 833 470 1428 (inside the U.S.) and entering access code 153840. Callers outside the U.S. can find global dial-in numbers here. For those unable to join the live event, a recording will be available beginning at approximately 2:00 p.m. (Eastern) on August 1, 2024, t

Ingevity Corporation (NYSE:NGVT) today announced the appointment of Ryan C. Fisher as senior vice president, general counsel and secretary and Terry Dyer as senior vice president and chief human resources officer. "We are excited to add Ryan and Terry to our executive leadership team," said Ingevity president and CEO, John Fortson. "Both leaders bring extensive experience, with successful track records of leading companies through business growth and expansion. I am confident that their contributions will be instrumental in driving our continued success and innovation." Fisher has held various leadership positions during his 18-year tenure with Ingevity and its predecessors. Most recent

Ingevity Corporation (NYSE:NGVT) today announced the expansion of its Capa® caprolactone distribution network by establishing Ultrapolymers Group as its distributor for Capa Bioplastics in Europe. Ultrapolymers Group will leverage the company's experienced sales and technical teams across Europe to maximize the sales of Ingevity's Capa Bioplastics products. "Adding a new distribution partner within Europe who is dedicated to our line of Capa biodegradable thermoplastics enables us to better serve our customers in the region," said Ingevity senior vice president and president, Advanced Polymer Technologies, Steve Hulme. "Ultrapolymers' network of compounders and converters, as well as thei

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HIGHLIGHTS: Net sales of $376.9 million, down 16% compared to prior year, primarily due to repositioning actions in Performance Chemicals Net loss of $107.2 million and diluted loss per share of $2.95 reflects before-tax restructuring charges of $86.9 million and contract termination fees of $100.0 million; adjusted earnings of $40.2 million and diluted adjusted earnings per share (EPS) of $1.10 Adjusted EBITDA of $106.4 million and adjusted EBITDA margin of 28.2% Operating cash flow of $46.5 million with free cash flow of $28.5 million Affirms full year guidance of sales between $1.40 billion and $1.50 billion and adjusted EBITDA between $350 million and $360 million The result

Ingevity Corporation (NYSE:NGVT) announced today that it will release its third-quarter 2024 earnings after the stock market close on Tuesday, October 29, 2024. The company will host a live webcast on Wednesday, October 30, at 10:00 a.m. (Eastern) to discuss third-quarter 2024 fiscal results. The webcast can be accessed here or on the investors section of Ingevity's website. You may also listen to the conference call by dialing 833 470 1428 (inside the U.S.) and entering access code 381718. Callers outside the U.S. can find global dial-in numbers here. For those unable to join the live event, a recording will be available beginning at approximately 2:00 p.m. (Eastern) on October 30, 2024,

Will optimize existing manufacturing footprint by consolidating oleo-based chemical refining with existing crude tall oil refining at the company's North Charleston, South Carolina, facility, and closing its Crossett, Arkansas, facility in August Manufacturing consolidation will result in approximately $20 million to $25 million in annual savings beginning in 2025 Executes corporate and business-related cost reduction actions resulting in additional annual savings of approximately $10 million beginning in 2025 Expects charges associated with these actions of approximately $100 million, with approximately $65 million to be non-cash Continues to evaluate the Performance Chemicals

HIGHLIGHTS: Net sales of $390.6 million, down 19% compared to prior year Net loss of $283.7 million and diluted loss per share of $7.81 primarily due to a Performance Chemicals non-cash goodwill impairment charge; adjusted earnings of $36.8 million and diluted adjusted earnings per share (EPS) of $1.01 Adjusted EBITDA of $101.3 million and adjusted EBITDA margin of 25.9% Operating cash flow of $29.7 million with free cash flow of $11.6 million In July, the company took further actions to reposition its Performance Chemicals segment, including the termination of a long-term crude tall oil supply contract, the announced closure of its Crossett, Arkansas, facility, to consolidat

Ingevity Corporation (NYSE:NGVT) announced today that it will release its second-quarter 2024 earnings after the stock market close on Wednesday, July 31, 2024. The company will host a live webcast on Thursday, August 1, at 11:00 a.m. (Eastern) to discuss second-quarter 2024 fiscal results. The webcast can be accessed here or on the investors section of Ingevity's website. You may also listen to the conference call by dialing 833 470 1428 (inside the U.S.) and entering access code 153840. Callers outside the U.S. can find global dial-in numbers here. For those unable to join the live event, a recording will be available beginning at approximately 2:00 p.m. (Eastern) on August 1, 2024, t

HIGHLIGHTS: (comparisons versus prior year period) Net sales of $340.1 million, down 13% primarily as a result of the repositioning of Performance Chemicals Net loss of $56.0 million and diluted loss per share (EPS) of $1.54; adjusted earnings of $19.1 million and diluted adjusted EPS of $0.52 Adjusted EBITDA of $76.9 million and adjusted EBITDA margin of 22.6% Operating cash flow of negative $12.1 million with free cash flow of negative $28.7 million reflecting normal seasonal inventory build and cash losses on crude tall oil (CTO) resales of $19.8 million Realized approximately $20 million of cost savings in Q1; on track for $65 million to $75 million of cost savings in 202

Ingevity Corporation (NYSE:NGVT) announced today that it will release its first-quarter 2024 earnings after the stock market close on Wednesday, May 1, 2024. The company will host a live webcast on Thursday, May 2, at 10:00 a.m. (Eastern) to discuss first-quarter 2024 fiscal results. The webcast can be accessed here or on the investors section of Ingevity's website. You may also listen to the conference call by dialing 833 470 1428 (inside the U.S.) and entering access code 707574. Callers outside the U.S. can find global dial-in numbers here. For those unable to join the live event, a recording will be available beginning at approximately 2:00 p.m. (Eastern) on May 2, 2024, through May

Fourth Quarter (comparisons versus prior year period): Net sales of $371.7 million decreased 3.1% Net loss of $116.8 million and diluted loss per share of $3.23, including restructuring charges of $107.5 million; adjusted earnings of $7.8 million and diluted adjusted earnings per share (EPS) of $0.21 Adjusted EBITDA of $61.8 million and adjusted EBITDA margin of 16.6% Accelerated the repositioning of the Performance Chemicals segment including the shutdown of the DeRidder, Louisiana, crude tall oil (CTO) refinery completed in early February of 2024 with the remaining assets to be shut down during the first half of the year Implemented significant cost savings actions Full

Ingevity Corporation (NYSE:NGVT) announced today that it will release its fourth-quarter and full year 2023 earnings after the stock market close on Wednesday, February 21, 2024. The company will host a live webcast on Thursday, February 22, at 9:00 a.m. (Eastern) to discuss fourth-quarter and full year 2023 fiscal results. The webcast can be accessed here or on the investors section of Ingevity's website. You may also listen to the conference call by dialing 833 470 1428 (inside the U.S.) and entering access code 690825. Callers outside the U.S. can find global dial-in numbers here. For those unable to join the live event, a recording will be available beginning at approximately 2:00 p

HIGHLIGHTS: (comparisons versus prior year period) Net sales of $446.0 million, down 7%, compared to a record prior year Net income of $25.2 million and diluted earnings per share (EPS) of $0.69; adjusted earnings of $44.2 million and diluted adjusted EPS of $1.21 Adjusted EBITDA of $110.4 million and adjusted EBITDA margin of 24.8% Operating cash flow of $106.9 million with free cash flow of $73.4 million Updated 2023 full-year guidance for adjusted EBITDA between $375 million to $390 million The company also announced today actions to accelerate the repositioning of its Performance Chemicals segment, including the closure of its DeRidder, Louisiana, facility and company-

In the preceding three months, 5 analysts have released ratings for Ingevity (NYSE:NGVT), presenting a wide array of perspectives from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 1 3 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 1 1 2 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $55.2, a high estimate of $62.00, and a low estimate of $45.00. Observing a 7.81% increase, the current average has risen fro

Wells Fargo analyst Michael Sison maintains Ingevity (NYSE:NGVT) with a Equal-Weight and lowers the price target from $55 to $45.

- Reuters

BMO Capital analyst John McNulty maintains Ingevity (NYSE:NGVT) with a Market Perform and raises the price target from $50 to $55.

Ingevity (NYSE:NGVT) underwent analysis by 4 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 1 2 0 0 Last 30D 0 0 1 0 0 1M Ago 1 1 0 0 0 2M Ago 0 0 0 0 0 3M Ago 0 0 1 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $56.5, a high estimate of $62.00, and a low estimate of $50.00. This current average has increased by 16.49% from the p

Loop Capital analyst Christopher Kapsch maintains Ingevity (NYSE:NGVT) with a Hold and raises the price target from $49 to $56.

Oppenheimer analyst Ian Zaffino maintains Ingevity (NYSE:NGVT) with a Outperform and raises the price target from $50 to $58.

Ingevity (NYSE:NGVT) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.32 by 62.5 percent. This is a 52.29 percent decrease over earnings of $1.09 per share from the same period last year. The company reported quarterly sales of $340.100 million which beat the analyst consensus estimate of $318.960 million by 6.63 percent. This is a 13.37 percent decrease over sales of $392.600 million the same period last year.