Ingevity (NYSE:NGVT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Ingevity (NYSE:NGVTGet Rating) from a hold rating to a buy rating in a research report report published on Friday morning.

Separately, Zacks Investment Research upgraded Ingevity from a hold rating to a buy rating and set a $69.00 target price on the stock in a research note on Sunday, February 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $88.20.

NGVT stock opened at $59.90 on Friday. Ingevity has a twelve month low of $56.31 and a twelve month high of $89.55. The company has a quick ratio of 1.80, a current ratio of 2.70 and a debt-to-equity ratio of 1.86. The firm has a market cap of $2.34 billion, a PE ratio of 20.44 and a beta of 2.07. The business has a 50 day moving average of $63.41 and a 200 day moving average of $69.94.

Ingevity (NYSE:NGVTGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.07. Ingevity had a return on equity of 31.41% and a net margin of 8.49%. The company had revenue of $336.00 million during the quarter, compared to analyst estimates of $289.44 million. During the same quarter last year, the company earned $1.33 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, research analysts expect that Ingevity will post 5.72 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in NGVT. State of New Jersey Common Pension Fund D boosted its stake in shares of Ingevity by 20.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 33,876 shares of the company’s stock worth $2,418,000 after buying an additional 5,779 shares during the last quarter. SG Americas Securities LLC raised its holdings in Ingevity by 253.3% in the 3rd quarter. SG Americas Securities LLC now owns 23,814 shares of the company’s stock worth $1,700,000 after purchasing an additional 17,073 shares during the period. New York State Common Retirement Fund raised its holdings in Ingevity by 35.3% in the 3rd quarter. New York State Common Retirement Fund now owns 166,289 shares of the company’s stock worth $11,868,000 after purchasing an additional 43,422 shares during the period. Kovack Advisors Inc. raised its holdings in Ingevity by 11.5% in the 3rd quarter. Kovack Advisors Inc. now owns 3,035 shares of the company’s stock worth $217,000 after purchasing an additional 314 shares during the period. Finally, Deutsche Bank AG raised its holdings in Ingevity by 8.4% in the 3rd quarter. Deutsche Bank AG now owns 65,995 shares of the company’s stock worth $4,711,000 after purchasing an additional 5,110 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

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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