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

Ingevity Co. (NYSE:NGVT) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $52.17.

Separately, BMO Capital Markets raised their target price 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.

Ingevity Trading Up 0.1 %

NYSE NGVT opened at $40.80 on Thursday. Ingevity has a 12 month low of $30.90 and a 12 month high of $56.29. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The company’s 50-day moving average price is $42.98 and its 200-day moving average price is $41.35. The stock has a market cap of $1.48 billion, a PE ratio of -2.63 and a beta of 1.62.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. The company had revenue of $376.90 million for the quarter, compared to analysts’ expectations of $376.95 million. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The firm’s revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. Equities research analysts forecast that Ingevity will post 2.55 earnings per share for the current year.

Institutional Trading of Ingevity

Hedge funds have recently modified their holdings of the company. Vestcor Inc bought a new position in shares of Ingevity in the third quarter worth about $796,000. American Century Companies Inc. lifted its holdings in Ingevity by 7.6% during the 2nd quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock worth $33,464,000 after buying an additional 53,839 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in Ingevity during the 2nd quarter worth $748,000. ClariVest Asset Management LLC bought a new position in Ingevity in the 2nd quarter valued at $3,550,000. Finally, Jade Capital Advisors LLC acquired a new stake in shares of Ingevity in the 3rd quarter valued at $1,170,000. Institutional investors 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.