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

Ingevity Co. (NYSE:NGVT) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $55.17.

A number of brokerages have recently issued reports on NGVT. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th.

Ingevity Price Performance

Shares of NGVT stock opened at $42.26 on Monday. Ingevity has a 1 year low of $30.90 and a 1 year high of $56.30. The firm’s 50 day moving average is $45.28 and its 200-day moving average is $42.34. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -3.57 and a beta of 1.53. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The company had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.40 million. Sell-side analysts forecast that Ingevity will post 4.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Ingevity

Several large investors have recently bought and sold shares of the business. Maple Rock Capital Partners Inc. acquired a new stake in Ingevity in the fourth quarter worth $17,515,000. American Century Companies Inc. raised its holdings in Ingevity by 37.7% in the fourth quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock worth $59,388,000 after purchasing an additional 398,800 shares during the period. Vision One Management Partners LP raised its holdings in Ingevity by 265.0% in the fourth quarter. Vision One Management Partners LP now owns 410,678 shares of the company’s stock worth $16,735,000 after purchasing an additional 298,157 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Ingevity by 33.5% in the third quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock worth $46,231,000 after purchasing an additional 297,135 shares during the period. Finally, Royce & Associates LP raised its holdings in Ingevity by 22.4% in the fourth quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock worth $46,561,000 after purchasing an additional 208,921 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.