Ingevity (NYSE:NGVT) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Ingevity (NYSE:NGVT) from a market perform rating to an outperform rating in a report issued on Wednesday morning, MarketBeat Ratings reports. They currently have $65.00 price objective on the stock, up from their previous price objective of $62.00.

Separately, StockNews.com raised Ingevity from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.17.

Ingevity Price Performance

Shares of NGVT stock opened at $47.53 on Wednesday. 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 fifty-two week low of $30.90 and a fifty-two week high of $56.29. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -4.01 and a beta of 1.64. The stock’s 50-day simple moving average is $43.73 and its 200-day simple moving average is $41.44.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NGVT. Maple Rock Capital Partners Inc. acquired a new position in Ingevity in the fourth quarter valued at approximately $17,515,000. American Century Companies Inc. lifted its holdings in Ingevity by 37.7% in the fourth quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock valued at $59,388,000 after acquiring an additional 398,800 shares during the period. Vision One Management Partners LP lifted its holdings in 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 acquiring an additional 298,157 shares during the period. Segall Bryant & Hamill LLC lifted 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 acquiring an additional 297,135 shares during the period. Finally, Royce & Associates LP lifted its holdings in Ingevity by 22.4% in the fourth quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock valued at $46,561,000 after acquiring an additional 208,921 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

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.