Brokerages Set Ingevity Co. (NYSE:NGVT) Price Target at $52.17

Ingevity Co. (NYSE:NGVT) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $55.17.

NGVT has been the topic of several recent research reports. BMO Capital Markets raised Ingevity from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $62.00 to $65.00 in a report on Wednesday. StockNews.com upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th.

Institutional Investors Weigh In On Ingevity

Several institutional investors and hedge funds have recently made changes to their positions in the company. Maple Rock Capital Partners Inc. acquired a new position in Ingevity in the fourth quarter valued at about $17,515,000. American Century Companies Inc. increased its holdings in shares of Ingevity by 37.7% during the fourth quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock worth $59,388,000 after buying an additional 398,800 shares in the last quarter. Vision One Management Partners LP boosted its holdings in shares of Ingevity by 265.0% in the 4th quarter. Vision One Management Partners LP now owns 410,678 shares of the company’s stock worth $16,735,000 after acquiring an additional 298,157 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in Ingevity by 33.5% during the 3rd 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 last quarter. Finally, Royce & Associates LP grew its position in Ingevity by 22.4% during the 4th quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock worth $46,561,000 after acquiring an additional 208,921 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Trading Up 1.6 %

Shares of NYSE:NGVT opened at $48.77 on Thursday. The firm has a fifty day moving average of $43.59 and a two-hundred day moving average of $41.39. 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 has a 12-month low of $30.90 and a 12-month high of $56.29. The firm has a market capitalization of $1.77 billion, a P/E ratio of -4.12 and a beta of 1.64.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share 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 business had revenue of $298.80 million for the quarter, compared to the consensus estimate of $297.40 million. On average, equities analysts expect that Ingevity will post 4.45 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.