| Yesterday | ||||
Loop Capital lowered the… Story temporarily locked. | ||||
| Over a week ago | ||||
Virtual Meetings to be… Virtual Meetings to be held March 7-8 hosted by Oppenheimer. | ||||
Virtual Meetings to be… Virtual Meetings to be held March 7-8 hosted by Oppenheimer. | ||||
Meeting to be held in… Meeting to be held in California March 6 hosted by Oppenheimer. | ||||
Virtual Meetings to be… Virtual Meetings to be held March 7-8 hosted by Oppenheimer. | ||||
Meeting to be held in… Meeting to be held in California March 6 hosted by Oppenheimer. | ||||
Wells Fargo raised the… Wells Fargo raised the firm's price target on Ingevity to $85 from $76 and keeps an Equal Weight rating on the shares. The firm believes strength in PM will partially offset weakness in PC. However, Ingevity's guidance for year-over-year EBITDA growth in 2023 is a positive reflection of its improved portfolio following Ozark & EM product launches, Wells adds. | ||||
Sees FY23 adjusted EBITDA… Sees FY23 adjusted EBITDA $495M-$515M. "2023 kicked off to a slower start but we expect to see order patterns normalize and to benefit from a recovery in key end-markets such as auto and adhesives. This expected recovery combined with the continued strength in markets such as oilfield, footwear and apparel, and pavement, including a full year of Ozark Materials, gives us confidence in our growth outlook for 2023," said Fortson. | ||||
Reports Q4 revenue… Reports Q4 revenue $383.6M, consensus $392.9M. "I am extremely proud of our team's resilience and persistence in successfully navigating 2022's difficult business environment. Our record performance translated to strong free cash flow which we used to return significant cash to shareholders and fund growth initiatives, including our acquisition of Ozark Materials in Q4, which expands our Pavement Technologies business into road markings," said John Fortson, president and CEO. "We remain focused on delivering consistent growth over time to our shareholders." | ||||
| Over a month ago | ||||
Loop Capital analyst… Loop Capital analyst Christopher Kapsch upgraded Ingevity to Buy from Hold with a price target of $100, up from $81. After discussions with its management, the analyst is turning more positive on his "counter-intuitive belief that in spite of the ongoing "energy transition" and shift to EVs from conventional internal combustion engines, the company's PM segment has a long runway for both robust demand, as well as arguably-outsized margin performance. Loop Capital also contends that Ingevity's sustainably characteristics are "woefully underappreciated". | ||||
