Ingevity Co. (NYSE:NGVT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Ingevity Co. (NYSE:NGVT) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $54.67.

A number of brokerages have recently commented on NGVT. StockNews.com raised Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets lifted their price target on Ingevity from $61.00 to $62.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th.

Ingevity Stock Performance

NYSE:NGVT opened at $46.11 on Thursday. The stock’s 50-day simple moving average is $43.36 and its 200 day simple moving average is $41.25. Ingevity has a twelve month low of $30.90 and a twelve month high of $56.29. The firm has a market capitalization of $1.68 billion, a PE ratio of -3.89 and a beta of 1.64. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.40 million. On average, analysts anticipate that Ingevity will post 4.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Ingevity

Hedge funds have recently made changes to their positions in the stock. Vestcor Inc bought a new stake in Ingevity in the third quarter worth approximately $796,000. Geode Capital Management LLC increased its holdings in Ingevity by 4.3% in the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after purchasing an additional 33,973 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ingevity by 24.9% during the third quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock valued at $4,586,000 after acquiring an additional 23,460 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Ingevity during the fourth quarter valued at approximately $239,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Ingevity during the fourth quarter valued at approximately $530,000. 91.59% of the stock is currently owned by 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.