Ingevity (NYSE:NGVT) Upgraded to “Outperform” by CJS Securities

Ingevity (NYSE:NGVT) was upgraded by equities research analysts at CJS Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, Briefing.com reports. The firm presently has a $58.00 price target on the stock. CJS Securities’ price objective points to a potential upside of 67.22% from the stock’s previous close.

Several other research analysts have also issued reports on the company. BMO Capital Markets dropped their price objective on Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a research note on Monday. Oppenheimer cut their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Loop Capital boosted their price target on shares of Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $62.00 in a research note on Monday, April 22nd. Finally, Wells Fargo & Company dropped their price target 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ingevity has an average rating of “Hold” and an average target price of $51.33.

Ingevity Trading Down 2.0 %

Shares of Ingevity stock opened at $34.69 on Wednesday. The company’s fifty day moving average price is $44.51 and its two-hundred day moving average price is $46.41. The firm has a market capitalization of $1.26 billion, a PE ratio of -11.15 and a beta of 1.66. Ingevity has a 52-week low of $34.37 and a 52-week high of $56.81. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 0.98.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The business had revenue of $390.60 million during the quarter, compared to the consensus estimate of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business’s revenue was down 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 EPS. On average, analysts expect that Ingevity will post 3.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its holdings in Ingevity by 809.2% during the second 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 last quarter. TFO Wealth Partners LLC lifted its stake in Ingevity by 40,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after acquiring an additional 815 shares during the last quarter. Blue Trust Inc. lifted its stake in Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after acquiring an additional 452 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Ingevity in the fourth quarter valued at $41,000. Finally, Principal Securities Inc. acquired a new stake in Ingevity in the fourth quarter valued at $67,000. 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.