Ingevity Co. (NYSE:NGVT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Ingevity Co. (NYSE:NGVT) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $52.17.

Separately, BMO Capital Markets increased their price objective on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st.

Ingevity Trading Up 0.8 %

Shares of Ingevity stock opened at $41.46 on Thursday. The company has a 50-day moving average of $43.26 and a two-hundred day moving average of $41.20. Ingevity has a 12-month low of $30.90 and a 12-month high of $56.29. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The stock has a market cap of $1.51 billion, a PE ratio of -2.67 and a beta of 1.62.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.50. The firm had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. Ingevity’s revenue was down 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. On average, research analysts anticipate that Ingevity will post 2.55 EPS for the current fiscal year.

Institutional Trading of Ingevity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Synovus Financial Corp boosted its stake in shares of Ingevity by 22.0% during the 3rd quarter. Synovus Financial Corp now owns 13,697 shares of the company’s stock worth $534,000 after purchasing an additional 2,471 shares during the last quarter. Geode Capital Management LLC boosted its position in Ingevity by 4.3% during the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after acquiring an additional 33,973 shares during the last quarter. Vestcor Inc purchased a new stake in Ingevity in the 3rd quarter worth approximately $796,000. Barclays PLC raised its holdings in Ingevity by 245.3% in the 3rd quarter. Barclays PLC now owns 66,761 shares of the company’s stock valued at $2,603,000 after acquiring an additional 47,429 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Ingevity during the 3rd quarter worth $260,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.