Ingevity (NYSE:NGVT) PT Lowered to $40.00 at BMO Capital Markets

Ingevity (NYSE:NGVT) had its price objective trimmed by BMO Capital Markets from $42.00 to $40.00 in a report issued on Monday, Benzinga reports. The firm currently has a market perform rating on the stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company dropped their price objective on Ingevity from $45.00 to $40.00 and set an equal weight rating for the company in a report on Monday, August 5th. CJS Securities raised shares of Ingevity from a market perform rating to an outperform rating and set a $58.00 price objective for the company in a research report on Wednesday, August 7th. Finally, Oppenheimer reduced their price objective on shares of Ingevity from $58.00 to $50.00 and set an outperform rating on the stock in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ingevity has a consensus rating of Hold and an average target price of $51.00.

Ingevity Trading Down 1.1 %

Shares of NYSE:NGVT opened at $37.46 on Monday. Ingevity has a 12-month low of $32.21 and a 12-month high of $56.29. The business has a 50 day moving average of $38.54 and a 200-day moving average of $44.17. The company has a quick ratio of 1.07, a current ratio of 1.92 and a debt-to-equity ratio of 4.92. The stock has a market cap of $1.36 billion, a PE ratio of -12.05 and a beta of 1.62.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The firm had revenue of $390.60 million during the quarter, compared to analyst estimates of $407.58 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 earnings per share. As a group, equities research analysts forecast that Ingevity will post 2.63 earnings per share for the current year.

Institutional Trading of Ingevity

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Ingevity by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,818,520 shares of the company’s stock valued at $182,143,000 after purchasing an additional 75,198 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Ingevity by 3.9% in the 4th quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock valued at $101,446,000 after acquiring an additional 80,856 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Ingevity by 2.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,359,556 shares of the company’s stock valued at $59,427,000 after acquiring an additional 35,620 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Ingevity by 1.4% during the second quarter. Victory Capital Management Inc. now owns 1,028,685 shares of the company’s stock worth $44,964,000 after acquiring an additional 13,771 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Ingevity by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock valued at $36,977,000 after acquiring an additional 88,026 shares during the last quarter. 91.59% of the stock is 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.