Ingevity (NYSE:NGVT) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Ingevity Corporation (NYSE:NGVT) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $69.54 and traded as high as $72.74. Ingevity shares last traded at $71.3510, with a volume of 357,713 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NGVT shares. Zacks Research raised Ingevity to a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Wells Fargo & Company increased their price target on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Wall Street Zen lowered Ingevity from a “strong-buy” rating to a “buy” rating in a report on Monday, March 9th. Finally, Jefferies Financial Group restated a “buy” rating and set a $82.00 price objective on shares of Ingevity in a research note on Thursday, February 26th. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.00.

Ingevity Price Performance

The company’s 50 day moving average price is $69.54 and its 200-day moving average price is $60.78. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -15.34 and a beta of 1.31. The company has a debt-to-equity ratio of 39.10, a quick ratio of 0.79 and a current ratio of 1.33.

Ingevity (NYSE:NGVT) last released 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). Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The business had revenue of $255.10 million during the quarter, compared to the consensus estimate of $257.27 million. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. On average, equities research analysts forecast that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ingevity

A number of institutional investors and hedge funds have recently modified their holdings of NGVT. Allianz Asset Management GmbH acquired a new position in Ingevity in the 3rd quarter worth approximately $1,670,000. CWA Asset Management Group LLC acquired a new stake in Ingevity during the 4th quarter valued at $1,305,000. Squarepoint Ops LLC acquired a new stake in Ingevity during the 2nd quarter valued at $1,279,000. Harvey Partners LLC lifted its holdings in shares of Ingevity by 5.1% in the third quarter. Harvey Partners LLC now owns 601,000 shares of the company’s stock valued at $33,169,000 after purchasing an additional 28,953 shares in the last quarter. Finally, Alpha Wave Global LP purchased a new stake in shares of Ingevity in the third quarter valued at $8,395,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

About Ingevity

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.