Ingevity Co. (NYSE:NGVT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Ingevity Co. (NYSE:NGVT) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $52.17.

NGVT has been the topic of a number of recent research reports. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Wednesday, August 7th. BMO Capital Markets upped their price target on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Wells Fargo & Company cut their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Oppenheimer decreased their target price on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its stake in shares of Ingevity by 809.2% in the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after acquiring an additional 526 shares during the last quarter. Isthmus Partners LLC acquired a new stake in Ingevity in the 2nd quarter worth $35,000. Blue Trust Inc. grew its position in Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Ingevity during the 2nd quarter worth about $46,000. Finally, KBC Group NV lifted its stake in shares of Ingevity by 50.8% in the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock valued at $61,000 after buying an additional 530 shares during the period. 91.59% of the stock is owned by institutional investors.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $48.56 on Friday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -3.13 and a beta of 1.60. Ingevity has a 1 year low of $30.90 and a 1 year high of $56.29. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The business has a fifty day simple moving average of $39.55 and a 200 day simple moving average of $42.09.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.50. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The business had revenue of $376.90 million during the quarter, compared to analyst estimates of $376.95 million. During the same period in the previous year, the company earned $1.21 EPS. The firm’s revenue was down 15.5% on a year-over-year basis. As a group, sell-side analysts predict that Ingevity will post 2.55 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.