Loop Capital Increases Ingevity (NYSE:NGVT) Price Target to $56.00

Ingevity (NYSE:NGVT) had its price target raised by stock analysts at Loop Capital from $49.00 to $56.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Loop Capital’s price target would indicate a potential upside of 3.70% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Company upped their price target on Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Oppenheimer increased their target price on shares of Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and boosted their price target for the company from $52.00 to $62.00 in a research report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Ingevity has a consensus rating of “Hold” and a consensus target price of $55.00.

Ingevity Trading Up 0.5 %

Shares of NYSE:NGVT opened at $54.00 on Tuesday. Ingevity has a 52 week low of $36.66 and a 52 week high of $66.18. The company’s 50 day moving average is $47.42 and its two-hundred day moving average is $44.45. The company has a market cap of $1.96 billion, a PE ratio of -17.36 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.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. The company had revenue of $340.10 million for the quarter, compared to analysts’ expectations of $319.15 million. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. Ingevity’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period last year, the firm earned $1.09 earnings per share. Equities analysts predict that Ingevity will post 3.78 earnings per share for the current fiscal year.

Institutional Trading of Ingevity

A number of large investors have recently bought and sold shares of the business. TFO Wealth Partners LLC raised 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 valued at $39,000 after buying an additional 815 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Ingevity during the 4th quarter valued at approximately $41,000. Principal Securities Inc. acquired a new stake in Ingevity during the 4th quarter worth approximately $67,000. Quadrant Capital Group LLC grew its stake in shares of Ingevity by 207.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $98,000 after purchasing an additional 1,401 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of Ingevity in the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds 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.