Ingevity (NYSE:NGVT) Lifted to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Ingevity (NYSE:NGVT) from a hold rating to a buy rating in a research note released on Monday, MarketBeat reports. They currently have $62.00 price target on the stock, up from their prior price target of $52.00.

Separately, Wells Fargo & Company upped their price objective on Ingevity from $43.00 to $50.00 and gave the stock an equal weight rating in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $51.40.

Ingevity Trading Down 1.5 %

Shares of NGVT opened at $48.18 on Monday. The stock has a fifty day moving average of $46.33 and a two-hundred day moving average of $43.66. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.96 and a current ratio of 1.81. The company has a market capitalization of $1.75 billion, a PE ratio of -219.00 and a beta of 1.85. Ingevity has a fifty-two week low of $36.66 and a fifty-two week high of $72.76.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.34. The company had revenue of $371.70 million during the quarter, compared to the consensus estimate of $336.74 million. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. Ingevity’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 EPS. As a group, analysts forecast that Ingevity will post 3.66 EPS for the current year.

Institutional Trading of Ingevity

Large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. acquired a new stake in Ingevity in the 4th quarter valued at $2,530,000. Wedge Capital Management L L P NC boosted its position in Ingevity by 28.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 137,106 shares of the company’s stock valued at $6,474,000 after buying an additional 30,201 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in Ingevity by 11.5% in the 3rd quarter. Rice Hall James & Associates LLC now owns 410,033 shares of the company’s stock valued at $19,522,000 after buying an additional 42,408 shares during the last quarter. First Hawaiian Bank boosted its position in Ingevity by 2.5% in the 4th quarter. First Hawaiian Bank now owns 10,160 shares of the company’s stock valued at $480,000 after buying an additional 250 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Ingevity by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 1,176,836 shares of the company’s stock valued at $56,029,000 after buying an additional 30,632 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.