Ingevity (NYSE:NGVT) Stock Rating Lowered by StockNews.com

Ingevity (NYSE:NGVT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Separately, BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $62.00 to $65.00 in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.17.

Ingevity Stock Up 2.1 %

NGVT traded up $0.88 during trading on Monday, hitting $43.26. The company had a trading volume of 151,156 shares, compared to its average volume of 255,951. Ingevity has a 1-year low of $30.90 and a 1-year high of $56.30. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The company has a market cap of $1.57 billion, a PE ratio of -3.65 and a beta of 1.53. The business has a 50-day moving average of $45.36 and a 200-day moving average of $42.39.

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

Hedge Funds Weigh In On Ingevity

A number of hedge funds and other institutional investors have recently bought and sold shares of NGVT. Vestcor Inc acquired a new stake in shares of Ingevity during the 3rd quarter worth approximately $796,000. Geode Capital Management LLC grew its stake in Ingevity by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after buying an additional 33,973 shares during the last quarter. JPMorgan Chase & Co. increased its position in Ingevity by 24.9% in the third quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock worth $4,586,000 after buying an additional 23,460 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Ingevity in the fourth quarter valued at $239,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Ingevity during the fourth quarter valued at $863,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.