Ingevity (NYSE:NGVT) Stock Rating Lowered by Wall Street Zen

Ingevity (NYSE:NGVT) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.

NGVT has been the topic of several other research reports. Jefferies Financial Group restated a “buy” rating and set a $82.00 price objective on shares of Ingevity in a report on Thursday, February 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $83.00 target price on shares of Ingevity in a research note on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Wells Fargo & Company boosted their price target on Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Finally, Zacks Research raised Ingevity to a “hold” rating in a report on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ingevity currently has an average rating of “Hold” and an average target price of $80.00.

Ingevity Stock Down 3.3%

NGVT opened at $64.97 on Monday. The business has a 50 day moving average of $68.13 and a 200-day moving average of $59.68. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -13.97 and a beta of 1.31. The company has a current ratio of 1.33, a quick ratio of 0.79 and a debt-to-equity ratio of 39.10. Ingevity has a 1-year low of $28.49 and a 1-year high of $77.46.

Ingevity (NYSE:NGVT) last announced 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). The company had revenue of $255.10 million for the quarter, compared to the consensus estimate of $257.27 million. Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The company’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.95 EPS. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. As a group, sell-side analysts anticipate that Ingevity will post 4.45 earnings per share for the current year.

Hedge Funds Weigh In On Ingevity

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new stake in Ingevity in the fourth quarter valued at about $27,000. Oakworth Capital Inc. bought a new position in Ingevity during the third quarter worth about $28,000. Meeder Asset Management Inc. acquired a new stake in Ingevity during the fourth quarter valued at approximately $33,000. Geneos Wealth Management Inc. boosted its holdings in Ingevity by 85.8% during the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after purchasing an additional 387 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Ingevity in the 2nd quarter valued at approximately $46,000. 91.59% of the stock is owned by institutional investors.

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.