Ingevity Co. (NYSE:NGVT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Ingevity Co. (NYSE:NGVT) have been given an average rating of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $55.17.

Several research analysts have commented on NGVT shares. StockNews.com upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th.

Institutional Trading of Ingevity

Institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. grew its stake in shares of Ingevity by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after purchasing an additional 271 shares during the last quarter. KBC Group NV grew its stake in shares of Ingevity by 50.8% in the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after purchasing an additional 530 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Ingevity in the fourth quarter worth $187,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Ingevity in the fourth quarter worth $214,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Ingevity in the fourth quarter worth $237,000. Institutional investors own 91.59% of the company’s stock.

Ingevity Trading Down 2.0 %

Shares of NGVT stock opened at $42.26 on Monday. Ingevity has a 1 year low of $30.90 and a 1 year high of $56.30. The stock has a market cap of $1.54 billion, a P/E ratio of -3.57 and a beta of 1.53. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The stock has a 50 day simple moving average of $45.28 and a 200 day simple moving average of $42.28.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The business had revenue of $298.80 million during the quarter, compared to the consensus estimate of $297.40 million. On average, research analysts predict that Ingevity will post 4.45 earnings per share for the current fiscal year.

About Ingevity

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.