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

Shares of Ingevity Co. (NYSE:NGVT) have been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $52.17.

Separately, BMO Capital Markets lifted their price objective on Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st.

Hedge Funds Weigh In On Ingevity

Several hedge funds and other institutional investors have recently modified their holdings of NGVT. First Horizon Advisors Inc. increased its position in Ingevity by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after purchasing an additional 271 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Ingevity in the second quarter worth $46,000. KBC Group NV raised its stake in shares of Ingevity by 50.8% in the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after acquiring an additional 530 shares during the period. Blue Trust Inc. boosted its position in Ingevity by 179.6% during the 3rd quarter. Blue Trust Inc. now owns 2,505 shares of the company’s stock worth $98,000 after purchasing an additional 1,609 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Ingevity in the 3rd quarter valued at $113,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Ingevity Price Performance

NYSE:NGVT opened at $37.97 on Monday. Ingevity has a 12-month low of $30.90 and a 12-month high of $56.29. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -2.44 and a beta of 1.65. The company’s 50-day moving average is $44.28 and its two-hundred day moving average is $40.77. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.50. The business had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Research analysts expect that Ingevity will post 2.55 EPS for the current year.

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.