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

Ingevity Co. (NYSE:NGVT) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $52.17.

NGVT has been the subject of several analyst reports. CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research report on Wednesday, August 7th. Oppenheimer cut their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company lowered their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, BMO Capital Markets lifted their price target on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, October 31st.

Institutional Trading of Ingevity

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Ingevity by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after acquiring an additional 33,973 shares during the last quarter. Vestcor Inc acquired a new position in shares of Ingevity during the third quarter worth approximately $796,000. Barclays PLC grew its stake in shares of Ingevity by 245.3% during the third quarter. Barclays PLC now owns 66,761 shares of the company’s stock valued at $2,603,000 after purchasing an additional 47,429 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Ingevity in the third quarter valued at approximately $260,000. Finally, Villanova Investment Management Co LLC raised its position in Ingevity by 30.4% in the 3rd quarter. Villanova Investment Management Co LLC now owns 48,459 shares of the company’s stock worth $1,890,000 after purchasing an additional 11,305 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Stock Up 0.3 %

NGVT opened at $48.56 on Friday. Ingevity has a fifty-two week low of $30.90 and a fifty-two week high of $56.29. The company has a market capitalization of $1.77 billion, a P/E ratio of -3.13 and a beta of 1.60. The company has a debt-to-equity ratio of 6.52, a current ratio of 1.76 and a quick ratio of 1.04. The firm’s fifty day moving average price is $39.55 and its two-hundred day moving average price is $42.09.

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