Ingevity Co. (NYSE:NGVT) Receives $51.33 Average Target Price from Brokerages

Shares of Ingevity Co. (NYSE:NGVT) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $51.33.

NGVT has been the topic of several research analyst reports. Oppenheimer lowered their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. BMO Capital Markets lowered their target price on shares of Ingevity from $45.00 to $42.00 and set a “market perform” rating on the stock in a research note on Monday, August 5th. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lowered their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th.

Ingevity Stock Performance

Shares of NGVT stock opened at $35.64 on Tuesday. Ingevity has a one year low of $32.21 and a one year high of $56.29. The company’s 50-day moving average is $39.88 and its 200 day moving average is $44.84. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -10.81 and a beta of 1.62. The company has a debt-to-equity ratio of 4.92, a quick ratio of 1.07 and a current ratio of 1.92.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The firm had revenue of $390.60 million for the quarter, compared to analysts’ expectations of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. Sell-side analysts expect that Ingevity will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Ingevity

Several institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its holdings in Ingevity by 186.3% in the 4th quarter. Russell Investments Group Ltd. now owns 69,193 shares of the company’s stock worth $3,267,000 after acquiring an additional 45,021 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ingevity by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 483,976 shares of the company’s stock worth $22,853,000 after acquiring an additional 44,910 shares in the last quarter. Principal Securities Inc. purchased a new stake in Ingevity in the 4th quarter worth approximately $67,000. Jump Financial LLC purchased a new stake in Ingevity in the 4th quarter worth approximately $690,000. Finally, Quadrant Capital Group LLC increased its holdings in Ingevity by 207.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $98,000 after acquiring an additional 1,401 shares in the last quarter. 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.