Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com - BMO Capital raised its price target on Ingevity Corp (NYSE:NGVT) to $62.00 from $56.00 on Thursday, while maintaining an Outperform rating on the stock. The company’s shares, currently trading at $48.89, have surged nearly 17% in the past week and are approaching their 52-week high of $51.67.
The research firm noted that despite a recent 21% jump in the stock price, it sees "significant upside ahead" as Ingevity has reached an inflection point in its earnings and free cash flow. According to InvestingPro data, the company maintains a strong free cash flow yield of 8% and analysts expect positive earnings in 2025.
BMO highlighted continued strength in the company’s Performance Materials business, which has performed well despite weakness in the automotive sector.
The firm also pointed to the end of high-cost crude tall oil (CTO) inventory, which has driven a rebound in profitability for the Performance Chemicals segment.
BMO Capital cited improved earnings, greater certainty around the potential sale of the InSpec business and refinery, and significant free cash flow as factors behind its decision to maintain Ingevity as one of its top small and mid-cap picks.
In other recent news, Ingevity Corporation reported its second-quarter earnings for 2025, showcasing a notable earnings per share (EPS) performance. The actual EPS of $1.39 exceeded the forecasted $1.16, marking a 19.83% surprise. Despite this positive earnings result, the company’s revenue did not meet expectations, recording $365 million against a forecast of $378.7 million. These developments highlight the company’s robust operational performance, even in the face of revenue shortfalls. In addition to the earnings announcement, there have been no recent reports of mergers or acquisitions involving Ingevity. Analyst actions regarding the company’s stock have not been reported in the latest updates. Other company-specific news has not been disclosed in recent reports.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.