Ingevity (NYSE:NGVT) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Ingevity (NYSE:NGVT) had its price target hoisted by BMO Capital Markets from $61.00 to $62.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 34.48% from the company’s current price.

Ingevity Stock Down 1.4 %

NYSE NGVT opened at $46.11 on Thursday. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The stock has a market capitalization of $1.68 billion, a PE ratio of -3.89 and a beta of 1.64. Ingevity has a 1 year low of $30.90 and a 1 year high of $56.29. The business’s 50-day moving average is $43.33 and its 200 day moving average is $41.09.

Ingevity (NYSE:NGVT) last posted its earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The company had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. Sell-side analysts forecast that Ingevity will post 4.45 earnings per share for the current year.

Institutional Trading of Ingevity

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. lifted its holdings in Ingevity by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after buying an additional 271 shares during the period. KBC Group NV lifted its holdings in Ingevity by 50.8% in the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after buying an additional 530 shares during the period. Blue Trust Inc. lifted its holdings in Ingevity by 179.6% in the third quarter. Blue Trust Inc. now owns 2,505 shares of the company’s stock worth $98,000 after buying an additional 1,609 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Ingevity by 27.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company’s stock worth $151,000 after buying an additional 831 shares during the period. Finally, Empowered Funds LLC purchased a new stake in Ingevity in the fourth quarter worth about $187,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.