Brokerages Set Ingevity Co. (NYSE:NGVT) PT at $51.33

Ingevity Co. (NYSE:NGVT) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $51.33.

A number of analysts recently commented on the company. CJS Securities raised Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Wednesday, August 7th. Oppenheimer decreased their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. BMO Capital Markets cut their price objective on shares of Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a research report on Monday, August 5th. Finally, Wells Fargo & Company decreased their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th.

Hedge Funds Weigh In On Ingevity

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in shares of Ingevity by 186.3% during the 4th quarter. Russell Investments Group Ltd. now owns 69,193 shares of the company’s stock worth $3,267,000 after buying an additional 45,021 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Ingevity by 10.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 483,976 shares of the company’s stock worth $22,853,000 after acquiring an additional 44,910 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Ingevity in the 4th quarter worth about $67,000. Jump Financial LLC purchased a new position in shares of Ingevity in the 4th quarter worth about $690,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Ingevity by 207.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $98,000 after purchasing an additional 1,401 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Performance

Shares of NGVT opened at $37.71 on Tuesday. Ingevity has a 12-month low of $32.21 and a 12-month high of $56.29. The stock has a market cap of $1.37 billion, a P/E ratio of -12.13 and a beta of 1.62. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92. The company has a 50-day moving average of $39.60 and a two-hundred day moving average of $44.64.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). The company had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 earnings per share. As a group, research analysts predict that Ingevity will post 2.63 EPS for the current fiscal year.

About Ingevity

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.