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

Ingevity Co. (NYSE:NGVT) has received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $52.17.

A number of analysts have weighed in on NGVT shares. Oppenheimer reduced their price target on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. BMO Capital Markets boosted their target price on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Wells Fargo & Company lowered their price target on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. 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 note on Wednesday, August 7th.

Ingevity Stock Performance

Shares of NGVT opened at $47.50 on Friday. Ingevity has a 52 week low of $30.90 and a 52 week high of $56.29. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The company has a market capitalization of $1.73 billion, a PE ratio of -3.06 and a beta of 1.60. The company’s 50 day moving average price is $39.80 and its 200 day moving average price is $41.90.

Ingevity (NYSE:NGVT) last issued its earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. During the same quarter in the previous year, the company posted $1.21 earnings per share. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. Research analysts expect that Ingevity will post 2.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Ingevity

Large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its holdings in shares of Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after purchasing an additional 526 shares during the last quarter. Blue Trust Inc. boosted its position in Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after buying an additional 452 shares in the last quarter. Headlands Technologies LLC bought a new stake in Ingevity during the second quarter worth about $46,000. KBC Group NV increased its holdings in shares of Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after buying an additional 530 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Ingevity in the third quarter valued at approximately $113,000. 91.59% of the stock is currently owned by 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.