Ingevity Co. (NYSE:NGVT) Receives $52.17 Average Price Target from Analysts

Shares of Ingevity Co. (NYSE:NGVT) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $52.17.

NGVT has been the subject of several research analyst reports. Oppenheimer dropped their price objective on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. BMO Capital Markets boosted their target price on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Wednesday, August 7th. Finally, Wells Fargo & Company dropped their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th.

Hedge Funds Weigh In On Ingevity

Several institutional investors have recently modified their holdings of the stock. Swedbank AB acquired a new position in shares of Ingevity in the 1st quarter valued at $3,372,000. American Century Companies Inc. grew its stake in Ingevity by 7.6% in the second quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock valued at $33,464,000 after acquiring an additional 53,839 shares during the period. Wakefield Asset Management LLLP bought a new stake in shares of Ingevity in the second quarter worth about $748,000. ClariVest Asset Management LLC acquired a new stake in shares of Ingevity during the second quarter worth about $3,550,000. Finally, Jade Capital Advisors LLC bought a new position in shares of Ingevity during the 3rd quarter valued at about $1,170,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Stock Performance

Shares of NYSE:NGVT opened at $47.50 on Friday. The business has a fifty day moving average of $39.80 and a 200-day moving average of $41.90. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. Ingevity has a twelve month low of $30.90 and a twelve month high of $56.29. The firm has a market cap of $1.73 billion, a PE ratio of -3.06 and a beta of 1.60.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The firm had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same quarter last year, the company posted $1.21 EPS. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. On average, equities research analysts predict that Ingevity will post 2.55 EPS for the current fiscal year.

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.