Ingevity Co. (NYSE:NGVT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Ingevity Co. (NYSE:NGVT) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $53.83.

Several brokerages have commented on NGVT. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Ingevity from $45.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, StockNews.com raised shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Friday, April 4th.

Institutional Trading of Ingevity

A number of hedge funds have recently made changes to their positions in NGVT. Vestcor Inc acquired a new position in shares of Ingevity during the third quarter worth $796,000. Geode Capital Management LLC boosted its position in Ingevity by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock valued at $31,817,000 after buying an additional 33,973 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Ingevity by 24.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock valued at $4,586,000 after buying an additional 23,460 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Ingevity during the fourth quarter valued at about $239,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Ingevity during the fourth quarter worth about $863,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Trading Down 6.4 %

Shares of NGVT stock opened at $31.25 on Friday. The firm’s 50-day simple moving average is $42.45 and its 200-day simple moving average is $42.16. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. Ingevity has a 1-year low of $28.49 and a 1-year high of $56.30. The firm has a market cap of $1.14 billion, a P/E ratio of -2.64 and a beta of 1.54.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The company had revenue of $298.80 million for the quarter, compared to the consensus estimate of $297.40 million. As a group, equities analysts forecast that Ingevity will post 4.45 EPS for the current year.

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.