Ingevity Corp. Touches Fresh Low

(RTTNews) - Shares of specialty chemicals company Ingevity Corporation (NGVT) touched a new low of $62.53 after the company announced full-year sales outlook lower than estimates, in its preliminary results announced on Monday.

NGVT closed yesterday's trading at $63.02. The stock has lost more than 30% in the last one year.

We had alerted about this stock when it touched a new low of $66.22 on January 30.

For the full-year 2020, Ingevity sees revenue between $1.30 billion and $1.35 billion. The Street sees revenue at $1.36 billion.

Preliminary sales in the fourth quarter rose 8.9% to $303.4 million from $278.6 million in the comparable quarter last year. Adjusted EPS was $1.1, slightly better than $1.07 in the same quarter a year ago. The consensus estimate for earnings is $1 per share.

Fourth-quarter earnings results are scheduled to be reported on February 19.