Ingevity Co. (NYSE:NGVT) Receives Average Rating of “Hold” from Brokerages

Ingevity Co. (NYSE:NGVT) has been given a consensus rating of “Hold” by the four brokerages that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $48.75.

Separately, Wells Fargo & Company increased their target price on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd.

Hedge Funds Weigh In On Ingevity

Several large investors have recently bought and sold shares of NGVT. BlackRock Inc. raised its stake in shares of Ingevity by 29.8% in the 2nd quarter. BlackRock Inc. now owns 5,682,753 shares of the company’s stock worth $330,509,000 after buying an additional 1,303,485 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ingevity by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock valued at $176,760,000 after acquiring an additional 153,530 shares during the last quarter. Wellington Management Group LLP increased its position in Ingevity by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock worth $101,446,000 after buying an additional 80,856 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Ingevity by 57.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock worth $87,572,000 after buying an additional 677,718 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Ingevity by 3.9% in the 1st quarter. State Street Corp now owns 1,258,440 shares of the company’s stock valued at $80,628,000 after acquiring an additional 47,263 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Trading Down 3.3 %

Ingevity stock opened at $45.32 on Friday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.96 and a current ratio of 1.81. Ingevity has a 1 year low of $36.66 and a 1 year high of $74.74. The firm’s 50-day moving average is $46.15 and its 200-day moving average is $43.67. The company has a market cap of $1.64 billion, a P/E ratio of -206.00 and a beta of 1.85.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. On average, equities analysts expect that Ingevity will post 3.65 earnings per share for the current year.

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.