Brokerages Set Ingevity Co. (NYSE:NGVT) Price Target at $55.17

Ingevity Co. (NYSE:NGVT) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $55.17.

A number of research firms recently weighed in on NGVT. StockNews.com raised shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and raised their target price for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th.

Ingevity Stock Down 2.0 %

Shares of NGVT stock opened at $42.26 on Monday. The firm has a fifty day moving average of $45.28 and a 200-day moving average of $42.34. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. Ingevity has a 12-month low of $30.90 and a 12-month high of $56.30. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -3.57 and a beta of 1.53.

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

Institutional Trading of Ingevity

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in Ingevity by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock valued at $34,000 after acquiring an additional 271 shares during the last quarter. KBC Group NV lifted its stake in 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 acquiring an additional 530 shares during the last quarter. Empowered Funds LLC acquired a new stake in Ingevity in the fourth quarter valued at $187,000. O Shaughnessy Asset Management LLC acquired a new stake in Ingevity in the fourth quarter valued at $214,000. Finally, Teacher Retirement System of Texas acquired a new stake in Ingevity in the fourth quarter valued at $237,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

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.