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

Ingevity Co. (NYSE:NGVT) has been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $52.17.

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

Ingevity Price Performance

Shares of NYSE NGVT opened at $41.74 on Monday. Ingevity has a twelve month low of $30.90 and a twelve 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 has a market capitalization of $1.52 billion, a price-to-earnings ratio of -2.69 and a beta of 1.65. The firm has a 50-day moving average of $44.05 and a two-hundred day moving average of $40.69.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $1.21 EPS. Ingevity’s revenue was down 15.5% on a year-over-year basis. As a group, analysts expect that Ingevity will post 2.55 earnings per share for the current fiscal year.

Institutional Trading of Ingevity

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Ingevity in the 4th quarter valued at about $239,000. Moody National Bank Trust Division grew its stake in shares of Ingevity by 12.4% in the 4th quarter. Moody National Bank Trust Division now owns 41,837 shares of the company’s stock valued at $1,705,000 after buying an additional 4,608 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ingevity by 24.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock valued at $4,586,000 after buying an additional 23,460 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Ingevity by 22.0% in the 3rd quarter. Synovus Financial Corp now owns 13,697 shares of the company’s stock valued at $534,000 after buying an additional 2,471 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Ingevity by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock valued at $31,817,000 after buying an additional 33,973 shares in the last quarter. 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.