Ingevity Co. (NYSE:NGVT) Receives $55.00 Average Price Target from Brokerages

Ingevity Co. (NYSE:NGVT) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $55.00.

NGVT has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. BMO Capital Markets upped their target price 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 raised their price target on Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $62.00 in a research report on Monday, April 22nd. Finally, Loop Capital increased their price objective 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.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NGVT. Victory Capital Management Inc. boosted its stake in shares of Ingevity by 57.6% in the 4th quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock valued at $87,572,000 after purchasing an additional 677,718 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Ingevity during the third quarter worth $7,463,000. Vanguard Group Inc. grew its stake in shares of Ingevity by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock worth $176,760,000 after buying an additional 153,530 shares during the last quarter. Burney Co. increased its holdings in shares of Ingevity by 2,449.8% during the first quarter. Burney Co. now owns 112,268 shares of the company’s stock worth $5,355,000 after buying an additional 107,865 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Ingevity by 3.9% in the 4th quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock valued at $101,446,000 after acquiring an additional 80,856 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Down 1.2 %

NGVT stock opened at $48.04 on Friday. The business’s fifty day moving average price is $49.33 and its two-hundred day moving average price is $46.12. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -15.45 and a beta of 1.72. Ingevity has a fifty-two week low of $36.66 and a fifty-two week high of $66.18. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.90 and a quick ratio of 0.98.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. The business had revenue of $340.10 million for the quarter, compared to analyst estimates of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. Ingevity’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. On average, equities analysts anticipate that Ingevity will post 3.78 earnings per share for the current 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.