Ingevity (NYSE:NGVT) Stock Rating Lowered by StockNews.com

Ingevity (NYSE:NGVT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets raised Ingevity from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Ingevity from $45.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Ingevity currently has an average rating of “Moderate Buy” and an average price target of $53.83.

Ingevity Trading Up 2.1 %

Shares of Ingevity stock opened at $31.92 on Friday. The stock has a market cap of $1.16 billion, a PE ratio of -2.70 and a beta of 1.54. The firm has a fifty day moving average price of $42.19 and a 200 day moving average price of $42.11. Ingevity has a 1 year low of $28.49 and a 1 year high of $56.30. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.29 by $0.66. The business had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. Equities research analysts predict that Ingevity will post 4.45 earnings per share for the current year.

Hedge Funds Weigh In On Ingevity

A number of hedge funds have recently made changes to their positions in the stock. KBC Group NV lifted its stake in Ingevity by 27.5% during the 4th quarter. KBC Group NV now owns 2,007 shares of the company’s stock worth $82,000 after acquiring an additional 433 shares in the last quarter. Empowered Funds LLC purchased a new stake in Ingevity during the fourth quarter worth about $187,000. O Shaughnessy Asset Management LLC purchased a new stake in Ingevity during the 4th quarter worth approximately $214,000. Teacher Retirement System of Texas acquired a new stake in Ingevity during the 4th quarter worth approximately $237,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Ingevity in the fourth quarter worth $239,000. 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.