Ingevity (NYSE:NGVT) Rating Increased to Strong-Buy at Wall Street Zen

Ingevity (NYSE:NGVT) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday.

Several other analysts have also recently issued reports on the company. BMO Capital Markets increased their price objective on Ingevity from $64.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Jefferies Financial Group restated a “buy” rating and set a $82.00 price target on shares of Ingevity in a report on Thursday. Zacks Research upgraded Ingevity to a “hold” rating in a research note on Tuesday, December 16th. Wells Fargo & Company boosted their price objective on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ingevity has an average rating of “Hold” and a consensus price target of $75.67.

Ingevity Trading Up 2.0%

NYSE NGVT opened at $71.95 on Friday. The company has a debt-to-equity ratio of 8.39, a quick ratio of 0.80 and a current ratio of 1.27. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -15.47 and a beta of 1.34. The firm has a 50 day simple moving average of $67.23 and a 200-day simple moving average of $59.16. Ingevity has a one year low of $28.49 and a one year high of $77.46.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). Ingevity had a positive return on equity of 100.39% and a negative net margin of 13.51%.The business had revenue of $255.10 million for the quarter, compared to analyst estimates of $257.27 million. During the same quarter last year, the company earned $0.95 earnings per share. Ingevity’s quarterly revenue was down 3.2% compared to the same quarter last year. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Equities research analysts anticipate that Ingevity will post 4.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Ingevity

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new position in Ingevity in the fourth quarter valued at approximately $27,000. Oakworth Capital Inc. acquired a new stake in Ingevity during the third quarter worth approximately $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Ingevity during the 4th quarter worth approximately $33,000. Kestra Advisory Services LLC acquired a new position in shares of Ingevity in the 4th quarter valued at $47,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Ingevity by 85.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after buying an additional 387 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Company Profile

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.