Ingevity Corporation (NYSE:NGVT) Stock Has Average Price Target of $80.00

Key Points

• Analyst consensus is “Hold” for Ingevity, with three hold ratings and two buys among five covering brokerages. The average 12-month price target is $80, modestly above the stock’s reported $73.82 opening price.
• NGVT shares have traded between $45.85 and $79.29 over the past year, with a $2.54 billion market capitalization and a reported P/E ratio of 50.22.
• Institutional investors own 91.59% of Ingevity, while insiders own 0.88%; company insiders sold 15,092 shares worth about $1.15 million over the past three months, including a 5,000-share sale by the CEO.

Ingevity Corporation (NYSE:NGVT - Get Free Report) has been given an average recommendation of "Hold" by the five brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $80.00.

Several research analysts have recently issued reports on NGVT shares. Weiss Ratings cut Ingevity from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, October 23rd. Wall Street Zen cut shares of Ingevity from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st.

Ingevity Stock Performance

Shares of NYSE NGVT opened at $73.82 on Tuesday. Ingevity has a 12-month low of $45.85 and a 12-month high of $79.29. The company has a market cap of $2.54 billion, a PE ratio of 50.22 and a beta of 1.14. The stock has a 50 day simple moving average of $70.51 and a 200-day simple moving average of $71.21. The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 22.52.

Insider Transactions at Ingevity

In other Ingevity news, CEO David Li sold 5,000 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $75.83, for a total transaction of $379,150.00. Following the transaction, the chief executive officer owned 120,636 shares of the company's stock, valued at approximately $9,147,827.88. This trade represents a 3.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 15,092 shares of company stock valued at $1,147,773. Corporate insiders own 0.88% of the company's stock.

Institutional Trading of Ingevity

Institutional investors have recently made changes to their positions in the stock. Vise Technologies Inc. acquired a new position in shares of Ingevity in the 3rd quarter worth approximately $278,000. VestGen Advisors LLC acquired a new stake in Ingevity during the third quarter valued at approximately $209,000. Simplicity Wealth LLC lifted its stake in Ingevity by 108.8% during the third quarter. Simplicity Wealth LLC now owns 6,572 shares of the company's stock valued at $465,000 after purchasing an additional 3,424 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Ingevity during the third quarter worth approximately $818,000. Finally, Axxcess Wealth Management LLC bought a new stake in Ingevity during the third quarter worth approximately $371,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Ingevity Company Profile

Ingevity Corporation NYSE: NGVT is a specialty chemicals and materials company that develops products designed to improve performance, efficiency, and sustainability across a range of industrial and consumer applications. Its offerings serve markets including automotive, transportation, agriculture, coatings, adhesives, pavement markings, and industrial manufacturing.

The company is best known for activated carbon products used in automotive vapor-emission control systems, where they help capture fuel vapors and reduce emissions.

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