Ingevity (NYSE:NGVT) Price Target Increased to $56.00 by Analysts at Loop Capital

Ingevity (NYSE:NGVT) had its price target lifted by Loop Capital from $49.00 to $56.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also commented on NGVT. Jefferies Financial Group raised shares of Ingevity from a hold rating to a buy rating and raised their target price for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Wells Fargo & Company boosted their price objective on shares of Ingevity from $43.00 to $50.00 and gave the company an equal weight rating in a research report on Friday, February 23rd. Finally, Oppenheimer raised their target price on Ingevity from $50.00 to $58.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Ingevity has an average rating of Hold and an average price target of $53.00.

Ingevity Trading Down 0.3 %

Shares of NGVT stock opened at $53.70 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.90 and a debt-to-equity ratio of 2.48. The company has a market capitalization of $1.95 billion, a PE ratio of -17.27 and a beta of 1.79. The firm has a 50 day moving average price of $47.24 and a two-hundred day moving average price of $44.38. Ingevity has a 12-month low of $36.66 and a 12-month high of $66.18.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The company had revenue of $340.10 million during the quarter, compared to the consensus estimate of $319.15 million. During the same period in the previous year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. As a group, analysts predict that Ingevity will post 3.78 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

Hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC raised its stake in shares of Ingevity by 1.3% during the fourth quarter. Jennison Associates LLC now owns 19,588 shares of the company’s stock valued at $925,000 after acquiring an additional 249 shares during the last quarter. First Hawaiian Bank lifted its holdings in Ingevity by 2.5% during the 4th quarter. First Hawaiian Bank now owns 10,160 shares of the company’s stock worth $480,000 after buying an additional 250 shares during the period. Savant Capital LLC grew its position in shares of Ingevity by 0.4% in the 4th quarter. Savant Capital LLC now owns 84,327 shares of the company’s stock valued at $3,982,000 after buying an additional 342 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Ingevity by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company’s stock valued at $1,402,000 after buying an additional 388 shares during the period. Finally, Raymond James & Associates lifted its holdings in Ingevity by 1.1% in the third quarter. Raymond James & Associates now owns 46,519 shares of the company’s stock valued at $2,215,000 after buying an additional 516 shares during the period. 91.59% of the stock is currently 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.