Ingevity Co. (NYSE:NGVT) Given Average Rating of “Moderate Buy” by Brokerages

Ingevity Co. (NYSE:NGVT) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $52.17.

Several analysts have recently commented on the stock. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Wednesday, August 7th. Wells Fargo & Company reduced their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note 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. Finally, BMO Capital Markets raised their target price on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st.

Ingevity Stock Up 0.5 %

Shares of NYSE:NGVT opened at $47.73 on Friday. The stock has a market cap of $1.73 billion, a P/E ratio of -3.07 and a beta of 1.60. The firm has a fifty day moving average price of $40.15 and a 200 day moving average price of $41.89. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. Ingevity has a 1-year low of $30.90 and a 1-year high of $56.29.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The firm had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same quarter in the prior year, the business earned $1.21 EPS. Ingevity’s quarterly revenue was down 15.5% compared to the same quarter last year. Sell-side analysts predict that Ingevity will post 2.55 EPS for the current year.

Hedge Funds Weigh In On Ingevity

A number of large investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its holdings in Ingevity by 42.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,892 shares of the company’s stock valued at $710,000 after acquiring an additional 4,430 shares in the last quarter. Vanguard Group Inc. increased its holdings in Ingevity by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 3,818,520 shares of the company’s stock valued at $182,143,000 after acquiring an additional 75,198 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Ingevity by 10.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,425 shares of the company’s stock valued at $259,000 after acquiring an additional 494 shares in the last quarter. Quadrature Capital Ltd grew its holdings in shares of Ingevity by 7.2% during the first quarter. Quadrature Capital Ltd now owns 23,833 shares of the company’s stock worth $1,136,000 after buying an additional 1,606 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Ingevity by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,218 shares of the company’s stock worth $1,490,000 after buying an additional 4,820 shares in the last quarter. Hedge funds and other institutional investors 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.