Ingevity (NYSE:NGVT) Reaches New 1-Year Low at $33.73

Shares of Ingevity Co. (NYSE:NGVT) hit a new 52-week low during trading on Monday . The company traded as low as $33.73 and last traded at $33.76, with a volume of 101923 shares traded. The stock had previously closed at $35.61.

Analyst Ratings Changes

A number of research firms have issued reports on NGVT. Oppenheimer cut their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Wednesday, August 7th. Wells Fargo & Company dropped their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and raised their price target for the stock from $52.00 to $62.00 in a research report on Monday, April 22nd. Finally, Loop Capital upped their price objective on Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Ingevity presently has a consensus rating of “Hold” and a consensus price target of $51.33.

Ingevity Trading Down 2.1 %

The company has a market capitalization of $1.27 billion, a P/E ratio of -11.24 and a beta of 1.66. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 0.98. The business’s 50-day moving average price is $43.24 and its two-hundred day moving average price is $46.09.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The business had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. During the same period in the previous year, the business posted $1.41 EPS. The business’s quarterly revenue was down 18.9% compared to the same quarter last year. As a group, analysts forecast that Ingevity Co. will post 3.47 EPS for the current fiscal year.

Institutional Trading of Ingevity

A number of large investors have recently bought and sold shares of NGVT. Jennison Associates LLC lifted its holdings in shares of Ingevity by 1.3% in the fourth quarter. Jennison Associates LLC now owns 19,588 shares of the company’s stock valued at $925,000 after purchasing an additional 249 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Ingevity by 3.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock valued at $326,000 after acquiring an additional 279 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Ingevity by 1.8% during the 2nd 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 during the last quarter. Savant Capital LLC grew its stake in shares of Ingevity by 0.4% during the 4th quarter. Savant Capital LLC now owns 84,327 shares of the company’s stock worth $3,982,000 after acquiring an additional 342 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Ingevity by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company’s stock valued at $1,402,000 after purchasing an additional 388 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

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.