Ingevity Co. (NYSE:NGVT) Receives $55.00 Consensus Target Price from Analysts

Shares of Ingevity Co. (NYSE:NGVT) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $55.00.

Several analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and upped their price target for the company from $52.00 to $62.00 in a research report on Monday, April 22nd. Oppenheimer upped their price target on shares of Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Loop Capital upped their price target on shares of Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Finally, BMO Capital Markets upped their price target on shares of Ingevity from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, May 8th.

Hedge Funds Weigh In On Ingevity

A number of large investors have recently bought and sold shares of NGVT. Victory Capital Management Inc. raised its position in Ingevity by 57.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock worth $87,572,000 after buying an additional 677,718 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Ingevity by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock valued at $176,760,000 after purchasing an additional 153,530 shares during the period. Burney Co. lifted its stake in shares of Ingevity by 2,449.8% in the first quarter. Burney Co. now owns 112,268 shares of the company’s stock valued at $5,355,000 after purchasing an additional 107,865 shares during the period. Wellington Management Group LLP lifted its stake in shares of Ingevity by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock valued at $101,446,000 after purchasing an additional 80,856 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Ingevity in the first quarter valued at about $3,372,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Trading Down 1.6 %

Shares of Ingevity stock opened at $43.71 on Thursday. The company has a fifty day simple moving average of $48.90 and a 200-day simple moving average of $46.62. Ingevity has a 12-month low of $36.66 and a 12-month high of $66.18. The company has a current ratio of 1.90, a quick ratio of 0.98 and a debt-to-equity ratio of 2.48. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -14.05 and a beta of 1.72.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.15. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The business had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $319.15 million. During the same quarter in the prior year, the business posted $1.09 EPS. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, equities analysts forecast that Ingevity will post 3.63 EPS for the current fiscal year.

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.