Ingevity (NYSE:NGVT) Price Target Raised to $75.00

Ingevity (NYSE:NGVT) had its target price increased by Wells Fargo & Company from $65.00 to $75.00 in a research note released on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Ingevity from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Thursday, January 22nd. Zacks Research upgraded shares of Ingevity to a “hold” rating in a research report on Tuesday, December 16th. BMO Capital Markets upped their target price on shares of Ingevity from $64.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $82.00 price target on shares of Ingevity in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $75.67.

Ingevity Stock Up 2.0%

Shares of Ingevity stock opened at $71.95 on Friday. Ingevity has a twelve month low of $28.49 and a twelve month high of $77.46. The company has a quick ratio of 0.79, a current ratio of 1.33 and a debt-to-equity ratio of 39.10. The company’s 50 day moving average is $67.23 and its 200 day moving average is $59.19. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -15.47 and a beta of 1.31.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). The company had revenue of $255.10 million during 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 for the quarter was down 3.2% on a year-over-year basis. 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. Research analysts anticipate that Ingevity will post 4.45 EPS for the current year.

Institutional Trading of Ingevity

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in shares of Ingevity during the 4th quarter valued at $27,000. Oakworth Capital Inc. purchased a new position in shares of Ingevity in the third quarter valued at about $28,000. Meeder Asset Management Inc. bought a new position in shares of Ingevity in the fourth quarter worth about $33,000. Kestra Advisory Services LLC purchased a new stake in shares of Ingevity during the fourth quarter worth about $47,000. Finally, Geneos Wealth Management Inc. raised its stake in Ingevity by 85.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after purchasing an additional 387 shares during the period. 91.59% of the stock is owned by hedge funds and other 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.