Analysts Set Ingevity Co. (NYSE:NGVT) PT at $51.00

Shares of Ingevity Co. (NYSE:NGVT) have earned an average rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $51.00.

A number of research firms recently commented on NGVT. BMO Capital Markets lowered their price target on shares of Ingevity from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Monday, September 30th. Oppenheimer reduced their price target on Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th.

Institutional Investors Weigh In On Ingevity

Several institutional investors and hedge funds have recently added to or reduced their stakes in NGVT. Inspire Investing LLC boosted its stake in shares of Ingevity by 30.5% during the 3rd quarter. Inspire Investing LLC now owns 10,454 shares of the company’s stock worth $408,000 after acquiring an additional 2,441 shares during the last quarter. SG Americas Securities LLC purchased a new position in Ingevity during the 3rd quarter valued at approximately $734,000. Creative Planning lifted its position in Ingevity by 13.4% during the second quarter. Creative Planning now owns 14,072 shares of the company’s stock valued at $615,000 after purchasing an additional 1,662 shares during the last quarter. Algert Global LLC grew its position in Ingevity by 38.8% in the second quarter. Algert Global LLC now owns 66,603 shares of the company’s stock worth $2,911,000 after acquiring an additional 18,613 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Ingevity by 76.3% in the 2nd quarter. Mackenzie Financial Corp now owns 7,753 shares of the company’s stock worth $339,000 after purchasing an additional 3,356 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Trading Up 1.3 %

Shares of Ingevity stock opened at $34.23 on Friday. Ingevity has a 1 year low of $30.90 and a 1 year high of $56.29. The company has a 50 day simple moving average of $36.97 and a two-hundred day simple moving average of $43.58. The firm has a market cap of $1.24 billion, a PE ratio of -2.88 and a beta of 1.62. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 1.07.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The business had revenue of $390.60 million during the quarter, compared to the consensus estimate of $407.58 million. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The company’s revenue was down 18.9% compared to the same quarter last year. Analysts expect that Ingevity will post 2.63 earnings per share 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.