Analysts Set Ingevity Co. (NYSE:NGVT) Target Price at $51.33

Ingevity Co. (NYSE:NGVT) has been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $51.33.

Several brokerages have recently issued reports on NGVT. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a report on Wednesday, August 7th. Wells Fargo & Company decreased their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Oppenheimer reduced their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Loop Capital upped their target price on shares of Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Finally, Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and upped their target price for the stock from $52.00 to $62.00 in a research note on Monday, April 22nd.

Ingevity Price Performance

NGVT opened at $35.97 on Friday. Ingevity has a 52 week low of $33.49 and a 52 week high of $56.29. The firm has a market capitalization of $1.31 billion, a PE ratio of -11.57 and a beta of 1.66. The company has a debt-to-equity ratio of 4.92, a quick ratio of 0.98 and a current ratio of 1.92. The company has a fifty day moving average price of $42.46 and a two-hundred day moving average price of $45.89.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The firm had revenue of $390.60 million during the quarter, compared to analyst estimates of $407.58 million. During the same period last year, the firm earned $1.41 EPS. Ingevity’s quarterly revenue was down 18.9% on a year-over-year basis. As a group, analysts anticipate that Ingevity will post 3.47 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its position in Ingevity by 809.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after buying an additional 526 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in shares of Ingevity by 40,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after purchasing an additional 815 shares during the period. Blue Trust Inc. raised its holdings in shares of Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after purchasing an additional 452 shares during the period. GAMMA Investing LLC bought a new stake in shares of Ingevity in the 4th quarter valued at about $41,000. Finally, Headlands Technologies LLC bought a new stake in shares of Ingevity in the 2nd quarter valued at about $46,000. 91.59% of the stock is owned by institutional investors.

Ingevity Company Profile

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.