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

Ingevity Co. (NYSE:NGVT) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $52.17.

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

Ingevity Stock Performance

Shares of Ingevity stock opened at $40.80 on Thursday. The stock’s fifty day simple moving average is $42.98 and its 200 day simple moving average is $41.35. 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 $1.48 billion, a PE ratio of -2.63 and a beta of 1.62. Ingevity has a 12 month low of $30.90 and a 12 month high of $56.29.

Ingevity (NYSE:NGVT) last issued its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. The business had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. On average, research analysts predict that Ingevity will post 2.55 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its holdings in Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after acquiring an additional 526 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Ingevity by 101.8% during the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after acquiring an additional 452 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Ingevity in the second quarter valued at about $46,000. KBC Group NV increased its position in Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after purchasing an additional 530 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Ingevity during the third quarter worth about $113,000. 91.59% of the stock is owned by institutional investors and hedge funds.

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.