Ingevity Co. (NYSE:NGVT) Receives $55.17 Average Target Price from Analysts

Shares of Ingevity Co. (NYSE:NGVT) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $55.17.

A number of equities analysts have recently issued reports on NGVT shares. StockNews.com raised shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th.

Institutional Investors Weigh In On Ingevity

A number of institutional investors and hedge funds have recently made changes to their positions in NGVT. First Horizon Advisors Inc. raised its holdings in shares of Ingevity by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after acquiring an additional 271 shares during the last quarter. KBC Group NV raised its holdings in shares of Ingevity by 50.8% in the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after acquiring an additional 530 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Ingevity in the 4th quarter worth about $187,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Ingevity in the 4th quarter worth about $214,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Ingevity in the 3rd quarter worth about $231,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Performance

Shares of NGVT opened at $42.26 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The stock has a market capitalization of $1.54 billion, a P/E ratio of -3.57 and a beta of 1.53. The firm’s fifty day simple moving average is $45.28 and its two-hundred day simple moving average is $42.28. Ingevity has a 12 month low of $30.90 and a 12 month high of $56.30.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.66. The business had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. As a group, analysts predict that Ingevity will post 4.45 EPS for the current 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.