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

Ingevity Co. (NYSE:NGVTGet Rating) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $88.20.

A number of equities research analysts have issued reports on NGVT shares. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Sunday, February 27th. StockNews.com cut Ingevity from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th.

Shares of Ingevity stock traded down $0.96 during trading hours on Friday, hitting $61.95. The company’s stock had a trading volume of 938 shares, compared to its average volume of 234,235. The business has a 50 day moving average price of $64.11 and a two-hundred day moving average price of $70.54. Ingevity has a 12-month low of $56.31 and a 12-month high of $89.55. The company has a market cap of $2.42 billion, a PE ratio of 21.34 and a beta of 2.07. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.80 and a current ratio of 2.70.

Ingevity (NYSE:NGVTGet Rating) last posted its earnings results on Wednesday, February 23rd. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. The company had revenue of $336.00 million for the quarter, compared to the consensus estimate of $289.44 million. Ingevity had a return on equity of 31.41% and a net margin of 8.49%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. As a group, research analysts anticipate that Ingevity will post 5.72 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. Inspire Investing LLC bought a new position in Ingevity in the first quarter worth approximately $233,000. Peterson Wealth Services boosted its position in Ingevity by 13.4% during the 1st quarter. Peterson Wealth Services now owns 22,936 shares of the company’s stock valued at $1,469,000 after acquiring an additional 2,714 shares in the last quarter. Norges Bank bought a new stake in Ingevity during the 4th quarter valued at $23,396,000. Barclays PLC boosted its position in Ingevity by 7.6% during the 4th quarter. Barclays PLC now owns 56,840 shares of the company’s stock valued at $4,075,000 after acquiring an additional 4,032 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Ingevity by 2.0% during the 4th quarter. BlackRock Inc. now owns 4,335,300 shares of the company’s stock valued at $310,842,000 after acquiring an additional 84,375 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors.

About Ingevity (Get Rating)

Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, motorcycles, trucks, and boats.

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