Wells Fargo & Company Has Lowered Expectations for Ingevity (NYSE:NGVT) Stock Price

Ingevity (NYSE:NGVT) had its price objective decreased by research analysts at Wells Fargo & Company from $45.00 to $32.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 2.41% from the stock’s current price.

Several other research firms have also weighed in on NGVT. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. StockNews.com raised shares of Ingevity from a “hold” rating to a “buy” rating in a research note on Friday, April 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.83.

Ingevity Stock Performance

Shares of Ingevity stock opened at $31.25 on Wednesday. The company has a market cap of $1.14 billion, a P/E ratio of -2.64 and a beta of 1.54. 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 business has a 50-day moving average price of $42.45 and a two-hundred day moving average price of $42.16. Ingevity has a 1-year low of $28.49 and a 1-year high of $56.30.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. KBC Group NV raised its stake in shares of Ingevity by 27.5% in the fourth quarter. KBC Group NV now owns 2,007 shares of the company’s stock worth $82,000 after purchasing an additional 433 shares during the last quarter. Empowered Funds LLC bought a new stake in Ingevity during the fourth quarter worth $187,000. O Shaughnessy Asset Management LLC purchased a new stake in Ingevity in the 4th quarter valued at $214,000. Teacher Retirement System of Texas bought a new position in Ingevity during the 4th quarter valued at $237,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Ingevity during the 4th quarter worth $239,000. Institutional investors and hedge funds 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.