Ingevity Co. (NYSE:NGVT) Receives $52.17 Consensus PT from Analysts

Shares of Ingevity Co. (NYSE:NGVT) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $54.67.

A number of brokerages recently issued reports on NGVT. StockNews.com upgraded Ingevity from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets upped their target price on Ingevity from $61.00 to $62.00 and gave the stock a “market perform” rating in a report on Thursday.

Ingevity Stock Performance

NYSE:NGVT opened at $46.11 on Thursday. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -3.89 and a beta of 1.64. Ingevity has a 1-year low of $30.90 and a 1-year high of $56.29. The business has a 50 day moving average of $43.33 and a 200 day moving average of $41.14.

Ingevity (NYSE:NGVT) last issued its quarterly 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 during the quarter, compared to analyst estimates of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. On average, sell-side analysts predict that Ingevity will post 4.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ingevity

Several institutional investors have recently bought and sold shares of NGVT. Maple Rock Capital Partners Inc. acquired a new stake in shares of Ingevity in the fourth quarter valued at approximately $17,515,000. American Century Companies Inc. lifted its stake in Ingevity by 37.7% during the fourth 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 grew its stake in shares of Ingevity by 265.0% in the fourth quarter. Vision One Management Partners LP now owns 410,678 shares of the company’s stock valued at $16,735,000 after buying an additional 298,157 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in Ingevity by 33.5% during the third quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock worth $46,231,000 after purchasing an additional 297,135 shares during the period. Finally, Royce & Associates LP lifted its holdings in Ingevity by 22.4% during the 4th 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 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.