Ingevity Co. (NYSE:NGVT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Ingevity Co. (NYSE:NGVT) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $52.17.

Separately, BMO Capital Markets upped their price target on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st.

Institutional Trading of Ingevity

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp lifted its position in Ingevity by 14.7% during the third quarter. State Street Corp now owns 1,546,957 shares of the company’s stock valued at $60,331,000 after purchasing an additional 198,300 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Ingevity by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 1,383,053 shares of the company’s stock worth $53,939,000 after buying an additional 23,497 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in Ingevity by 33.5% during the third quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock worth $46,231,000 after acquiring an additional 297,135 shares during the period. Royce & Associates LP raised its position in Ingevity by 23.3% during the third quarter. Royce & Associates LP now owns 933,677 shares of the company’s stock valued at $36,413,000 after acquiring an additional 176,447 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted 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 period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Price Performance

NYSE NGVT opened at $47.07 on Monday. The firm’s fifty day simple moving average is $44.09 and its two-hundred day simple moving average is $40.74. The firm has a market capitalization of $1.71 billion, a P/E ratio of -3.03 and a beta of 1.65. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. Ingevity has a 12-month low of $30.90 and a 12-month high of $56.29.

Ingevity (NYSE:NGVT) last announced its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.50. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The firm had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. During the same period in the previous year, the business earned $1.21 EPS. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. Analysts forecast that Ingevity will post 2.55 EPS for the current fiscal year.

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.