Ingevity (NYSE:NGVT) Price Target Cut to $40.00 by Analysts at BMO Capital Markets

Ingevity (NYSE:NGVT) had its price objective lowered by BMO Capital Markets from $42.00 to $40.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a market perform rating on the stock.

Several other research analysts have also commented on the stock. CJS Securities upgraded shares of Ingevity from a market perform rating to an outperform rating and set a $58.00 price target on the stock in a report on Wednesday, August 7th. Oppenheimer cut their price target on shares of Ingevity from $58.00 to $50.00 and set an outperform rating on the stock in a report on Thursday, August 1st. Finally, Wells Fargo & Company cut their price target on shares of Ingevity from $45.00 to $40.00 and set an equal weight rating on the stock in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $51.00.

Ingevity Trading Down 3.5 %

Shares of NGVT stock opened at $39.00 on Monday. The firm has a market cap of $1.42 billion, a P/E ratio of -12.54 and a beta of 1.62. Ingevity has a 1-year low of $32.21 and a 1-year high of $56.29. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 1.07. The firm’s 50-day simple moving average is $38.83 and its 200-day simple moving average is $44.26.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.01 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 business had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $407.58 million. During the same quarter in the previous year, the business posted $1.41 EPS. The company’s quarterly revenue was down 18.9% on a year-over-year basis. As a group, equities analysts forecast that Ingevity will post 2.63 EPS for the current year.

Institutional Trading of Ingevity

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Ingevity by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock valued at $101,446,000 after acquiring an additional 80,856 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Ingevity during the first quarter worth approximately $522,000. Vanguard Group Inc. grew its position in shares of Ingevity by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock worth $176,760,000 after buying an additional 153,530 shares in the last quarter. Swedbank AB acquired a new stake in shares of Ingevity during the first quarter worth approximately $3,372,000. Finally, Hsbc Holdings PLC grew its position in shares of Ingevity by 282.1% during the fourth quarter. Hsbc Holdings PLC now owns 33,084 shares of the company’s stock worth $1,566,000 after buying an additional 24,426 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

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.