Ingevity Co. (NYSE:NGVT) Receives Consensus Recommendation of “Hold” from Analysts

Ingevity Co. (NYSE:NGVT) has received an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $54.17.

A number of brokerages recently issued reports on NGVT. Loop Capital increased their target price on shares of Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. BMO Capital Markets lifted their price target on Ingevity from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, May 8th. Oppenheimer upped their price objective on Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and upped their price target for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Finally, Wells Fargo & Company cut their target price on shares of Ingevity from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th.

Ingevity Stock Performance

NGVT stock opened at $46.20 on Monday. The stock’s fifty day moving average is $45.54 and its two-hundred day moving average is $46.35. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -14.86 and a beta of 1.66. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.98 and a current ratio of 1.90. Ingevity has a 1 year low of $36.66 and a 1 year high of $66.18.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The firm had revenue of $340.10 million during the quarter, compared to analyst estimates of $319.15 million. During the same period in the previous year, the business posted $1.09 EPS. Ingevity’s revenue was down 13.4% on a year-over-year basis. On average, research analysts predict that Ingevity will post 3.63 EPS for the current year.

Institutional Trading of Ingevity

A number of hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its position in shares of Ingevity by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $743,000 after acquiring an additional 300 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after purchasing an additional 526 shares during the period. Blue Trust Inc. grew its position in Ingevity by 101.8% during the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares in the last quarter. Wedge Capital Management L L P NC grew its position in Ingevity by 4.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 143,493 shares of the company’s stock worth $6,272,000 after purchasing an additional 6,009 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Ingevity by 3.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock valued at $326,000 after purchasing an additional 279 shares during the period. 91.59% of the stock is owned by hedge funds and other 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.