Ingevity (NYSE:NGVT) Stock Crosses Below 50 Day Moving Average of $46.15

Ingevity Co. (NYSE:NGVT) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $46.15 and traded as low as $45.00. Ingevity shares last traded at $45.32, with a volume of 115,132 shares traded.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased their price objective on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $48.75.

Ingevity Trading Down 3.3 %

The firm has a market cap of $1.64 billion, a P/E ratio of -206.00 and a beta of 1.85. The stock has a fifty day simple moving average of $46.15 and a 200 day simple moving average of $43.67. 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 (NYSE:NGVT) last posted its earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.34. The business had revenue of $371.70 million during the quarter, compared to analyst estimates of $336.74 million. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. On average, research analysts expect that Ingevity Co. will post 3.65 earnings per share for the current fiscal year.

Institutional Trading of Ingevity

Large investors have recently modified their holdings of the company. TFO Wealth Partners LLC grew its holdings in shares of Ingevity by 40,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock worth $39,000 after acquiring an additional 815 shares during the period. GAMMA Investing LLC bought a new stake in shares of Ingevity in the fourth quarter worth $41,000. Principal Securities Inc. bought a new stake in shares of Ingevity in the fourth quarter worth $67,000. Quadrant Capital Group LLC grew its holdings in shares of Ingevity by 207.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $98,000 after acquiring an additional 1,401 shares during the period. Finally, FMR LLC grew its holdings in shares of Ingevity by 15.7% in the third quarter. FMR LLC now owns 2,394 shares of the company’s stock worth $114,000 after acquiring an additional 324 shares during the period. Institutional investors own 91.59% of the company’s stock.

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.