BMO Capital Markets Issues Positive Forecast for Ingevity (NYSE:NGVT) Stock Price

Ingevity (NYSE:NGVT) had its target price increased by BMO Capital Markets from $40.00 to $47.00 in a research note released on Thursday morning, Benzinga reports. They currently have a market perform rating on the stock.

A number of other research firms also recently weighed in on NGVT. CJS Securities raised Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, August 7th. Wells Fargo & Company reduced their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Oppenheimer lowered their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.17.

Ingevity Trading Up 0.5 %

Shares of NYSE:NGVT opened at $42.00 on Thursday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -2.70 and a beta of 1.60. Ingevity has a 12 month low of $30.90 and a 12 month high of $56.29. The company’s fifty day simple moving average is $36.89 and its 200 day simple moving average is $42.38. The company has a quick ratio of 1.07, a current ratio of 1.76 and a debt-to-equity ratio of 6.52.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.50. The company had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 earnings per share. As a group, research analysts forecast that Ingevity will post 2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Amalgamated Bank grew its holdings in Ingevity by 2.4% during the third quarter. Amalgamated Bank now owns 10,667 shares of the company’s stock worth $416,000 after purchasing an additional 246 shares during the period. Rice Hall James & Associates LLC lifted its position in shares of Ingevity by 2.0% in the third quarter. Rice Hall James & Associates LLC now owns 379,671 shares of the company’s stock valued at $14,807,000 after buying an additional 7,481 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Ingevity by 27.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock worth $151,000 after acquiring an additional 831 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Ingevity by 4.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 20,745 shares of the company’s stock worth $809,000 after acquiring an additional 908 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Ingevity by 3.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the company’s stock valued at $686,000 after acquiring an additional 600 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.