Ingevity Co. (NYSE:NGVT) Given Average Rating of “Hold” by Analysts

Ingevity Co. (NYSE:NGVT) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $53.00.

A number of equities research analysts have commented on NGVT shares. Loop Capital lifted their target price on Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a research report on Tuesday. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and increased their target price for the stock from $52.00 to $62.00 in a research note on Monday, April 22nd. Oppenheimer boosted their price target on shares of Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd.

Ingevity Stock Down 0.3 %

Shares of NYSE:NGVT opened at $53.70 on Wednesday. Ingevity has a 52-week low of $36.66 and a 52-week high of $66.18. The stock has a market cap of $1.95 billion, a P/E ratio of -17.27 and a beta of 1.79. The business has a fifty day moving average of $47.24 and a two-hundred day moving average of $44.38. The company has a quick ratio of 0.98, a current ratio of 1.90 and a debt-to-equity ratio of 2.48.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.15. The firm had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. Ingevity’s revenue was down 13.4% compared to the same quarter last year. During the same period last year, the business earned $1.09 earnings per share. On average, research analysts expect that Ingevity will post 3.78 earnings per share for the current year.

Hedge Funds Weigh In On Ingevity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC raised its stake in shares of Ingevity by 40,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after acquiring an additional 815 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Ingevity in the 4th quarter valued at about $41,000. Principal Securities Inc. purchased a new position in shares of Ingevity in the 4th quarter valued at about $67,000. Quadrant Capital Group LLC grew its position in shares of Ingevity by 207.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $98,000 after buying an additional 1,401 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Ingevity during the fourth quarter worth approximately $208,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.