Ingevity Co. (NYSE:NGVT) Receives $48.75 Average PT from Brokerages

Shares of Ingevity Co. (NYSE:NGVT) have earned a consensus recommendation of “Hold” from the four analysts that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $48.75.

Separately, Wells Fargo & Company upped their target price on shares of Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd.

Ingevity Trading Down 1.4 %

NYSE NGVT opened at $43.84 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 2.19. Ingevity has a 12 month low of $36.66 and a 12 month high of $73.43. The company has a market capitalization of $1.59 billion, a PE ratio of -199.27 and a beta of 1.85. The stock has a 50-day simple moving average of $46.23 and a 200 day simple moving average of $43.58.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.34. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. The company had revenue of $371.70 million during the quarter, compared to analysts’ expectations of $336.74 million. During the same period in the prior year, the business posted $0.57 EPS. Ingevity’s revenue was down 3.1% on a year-over-year basis. Research analysts forecast that Ingevity will post 3.65 EPS for the current year.

Hedge Funds Weigh In On Ingevity

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Ingevity by 29.8% during the 2nd quarter. BlackRock Inc. now owns 5,682,753 shares of the company’s stock worth $330,509,000 after purchasing an additional 1,303,485 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ingevity by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock valued at $176,760,000 after purchasing an additional 153,530 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Ingevity by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock worth $101,446,000 after buying an additional 80,856 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Ingevity by 57.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock worth $87,572,000 after buying an additional 677,718 shares in the last quarter. Finally, State Street Corp raised its position in Ingevity by 3.9% in the 1st quarter. State Street Corp now owns 1,258,440 shares of the company’s stock valued at $80,628,000 after buying an additional 47,263 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.