Ingevity (NYSE:NGVT) Given New $62.00 Price Target at BMO Capital Markets

Ingevity (NYSE:NGVT) had its price objective hoisted by BMO Capital Markets from $61.00 to $62.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a market perform rating on the stock.

Ingevity Stock Down 2.9 %

Shares of NYSE:NGVT opened at $46.85 on Thursday. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. Ingevity has a 1-year low of $30.90 and a 1-year high of $56.29. The company has a 50 day moving average price of $43.32 and a 200 day moving average price of $41.02.

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

Institutional Trading of Ingevity

A number of hedge funds have recently bought and sold shares of NGVT. Maple Rock Capital Partners Inc. acquired a new stake in shares of Ingevity during the fourth quarter valued at approximately $17,515,000. American Century Companies Inc. grew its position in Ingevity by 37.7% during the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock worth $59,388,000 after purchasing an additional 398,800 shares in the last quarter. Vision One Management Partners LP raised its stake in Ingevity by 265.0% during the 4th quarter. Vision One Management Partners LP now owns 410,678 shares of the company’s stock valued at $16,735,000 after purchasing an additional 298,157 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in shares of Ingevity by 33.5% in the third quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock valued at $46,231,000 after purchasing an additional 297,135 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Ingevity by 22.4% in the fourth quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock worth $46,561,000 after buying an additional 208,921 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.