Brokerages Set Ingevity Co. (NYSE:NGVT) PT at $52.17

Shares of Ingevity Co. (NYSE:NGVT) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $52.17.

Several equities analysts have issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. BMO Capital Markets boosted their price target on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Finally, CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research report on Wednesday, August 7th.

Ingevity Stock Performance

NYSE NGVT opened at $48.57 on Friday. The firm has a market cap of $1.77 billion, a P/E ratio of -3.13 and a beta of 1.60. Ingevity has a 52-week low of $30.90 and a 52-week high of $56.29. The business’s 50-day moving average price is $40.45 and its 200 day moving average price is $41.79. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share 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 company had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. During the same period last year, the business posted $1.21 EPS. The company’s revenue was down 15.5% on a year-over-year basis. On average, equities research analysts expect that Ingevity will post 2.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NGVT. Vanguard Group Inc. boosted its stake in shares of Ingevity by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 3,818,520 shares of the company’s stock worth $182,143,000 after acquiring an additional 75,198 shares in the last quarter. State Street Corp raised its holdings in Ingevity by 14.7% during the third quarter. State Street Corp now owns 1,546,957 shares of the company’s stock worth $60,331,000 after purchasing an additional 198,300 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Ingevity by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 1,383,053 shares of the company’s stock worth $53,939,000 after purchasing an additional 23,497 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in 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 during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Ingevity by 1.4% in the second quarter. Victory Capital Management Inc. now owns 1,028,685 shares of the company’s stock valued at $44,964,000 after buying an additional 13,771 shares in the last quarter. 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.