Brokerages Set Ingevity Co. (NYSE:NGVT) Price Target at $53.83

Shares of Ingevity Co. (NYSE:NGVT) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $53.83.

A number of equities research analysts recently issued reports on NGVT shares. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on Ingevity from $45.00 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, StockNews.com lowered Ingevity from a “buy” rating to a “hold” rating in a report on Saturday.

Institutional Trading of Ingevity

A number of hedge funds have recently bought and sold shares of the company. KBC Group NV grew its position in Ingevity by 27.5% during the fourth quarter. KBC Group NV now owns 2,007 shares of the company’s stock valued at $82,000 after acquiring an additional 433 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Ingevity during the 4th quarter valued at $187,000. O Shaughnessy Asset Management LLC purchased a new position in Ingevity in the 4th quarter worth $214,000. Teacher Retirement System of Texas bought a new stake in Ingevity in the fourth quarter worth $237,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Ingevity during the fourth quarter valued at about $239,000. Institutional investors own 91.59% of the company’s stock.

Ingevity Trading Up 2.1 %

Shares of NGVT opened at $31.92 on Friday. Ingevity has a twelve month low of $28.49 and a twelve month high of $56.30. The stock has a market cap of $1.16 billion, a PE ratio of -2.70 and a beta of 1.54. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The business’s 50-day moving average price is $42.19 and its 200-day moving average price is $42.13.

Ingevity (NYSE:NGVT) last issued 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 company had revenue of $298.80 million during the quarter, compared to analysts’ expectations of $297.40 million. On average, equities analysts forecast that Ingevity will post 4.45 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.