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

Shares of Ingevity Co. (NYSE:NGVT) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $52.17.

Separately, BMO Capital Markets boosted their price target on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, October 31st.

Ingevity Stock Up 4.1 %

NGVT stock opened at $41.74 on Monday. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. Ingevity has a 1-year low of $30.90 and a 1-year high of $56.29. The firm has a fifty day moving average price of $44.05 and a two-hundred day moving average price of $40.69. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -2.69 and a beta of 1.65.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The company had revenue of $376.90 million during 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 company’s revenue for the quarter was down 15.5% compared to the same quarter last year. Research analysts predict that Ingevity will post 2.55 EPS for the current year.

Institutional Investors Weigh In On Ingevity

Institutional investors have recently bought and sold shares of the stock. Vestcor Inc acquired a new stake in Ingevity in the third quarter worth about $796,000. Geode Capital Management LLC lifted its holdings in Ingevity by 4.3% in the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after purchasing an additional 33,973 shares during the period. American Century Companies Inc. lifted its holdings in Ingevity by 7.6% in the second quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock worth $33,464,000 after purchasing an additional 53,839 shares during the period. Barclays PLC lifted its holdings in Ingevity by 245.3% in the third quarter. Barclays PLC now owns 66,761 shares of the company’s stock worth $2,603,000 after purchasing an additional 47,429 shares during the period. Finally, Jade Capital Advisors LLC acquired a new stake in Ingevity in the third quarter worth about $1,170,000. Institutional investors and hedge funds 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.