Ingevity Co. (NYSE:NGVT) Given Average Rating of “Hold” by Analysts

Shares of Ingevity Co. (NYSE:NGVT) have earned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $53.00.

NGVT has been the subject of a number of research reports. Loop Capital upped their price target on shares of Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a research report on Tuesday. Wells Fargo & Company upped 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. Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and raised their target price for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Finally, Oppenheimer boosted their price target on Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd.

Institutional Investors Weigh In On Ingevity

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Ingevity by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock valued at $176,760,000 after buying an additional 153,530 shares during the last quarter. Wellington Management Group LLP grew its holdings in Ingevity by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock worth $101,446,000 after acquiring an additional 80,856 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Ingevity by 57.6% in the 4th quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock worth $87,572,000 after purchasing an additional 677,718 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Ingevity by 7.0% in the 4th quarter. Brown Advisory Inc. now owns 793,942 shares of the company’s stock worth $37,490,000 after purchasing an additional 52,187 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Ingevity by 14.4% in the 3rd quarter. American Century Companies Inc. now owns 494,464 shares of the company’s stock valued at $23,541,000 after purchasing an additional 62,418 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Price Performance

Shares of Ingevity stock opened at $53.70 on Wednesday. The stock has a market capitalization of $1.95 billion, a P/E ratio of -17.27 and a beta of 1.79. The company has a current ratio of 1.90, a quick ratio of 0.98 and a debt-to-equity ratio of 2.48. The business’s fifty day moving average price is $47.24 and its 200 day moving average price is $44.38. Ingevity has a twelve month low of $36.66 and a twelve month high of $66.18.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. The firm had revenue of $340.10 million during the quarter, compared to the consensus estimate of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The company’s revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. As a group, research analysts anticipate that Ingevity will post 3.78 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.