Ingevity (NYSE:NGVT) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Ingevity (NYSE:NGVT) from a buy rating to a hold rating in a research report report published on Monday morning.

Separately, BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Ingevity presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

Ingevity Trading Up 2.1 %

Shares of NYSE:NGVT opened at $43.26 on Monday. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.65 and a beta of 1.53. Ingevity has a 1-year low of $30.90 and a 1-year high of $56.30. The company has a 50 day moving average price of $45.36 and a 200 day moving average price of $42.39.

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

Hedge Funds Weigh In On Ingevity

Several institutional investors and hedge funds have recently bought and sold shares of NGVT. Wellington Management Group LLP lifted its position in shares of Ingevity by 5.4% in the fourth quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock worth $91,279,000 after purchasing an additional 115,581 shares in the last quarter. California State Teachers Retirement System lifted its position in Ingevity by 3.7% in the 4th quarter. California State Teachers Retirement System now owns 33,993 shares of the company’s stock worth $1,385,000 after buying an additional 1,199 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ingevity by 28.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,674 shares of the company’s stock valued at $313,000 after buying an additional 1,717 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ingevity during the 4th quarter valued at $1,423,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Ingevity in the fourth quarter worth $644,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.