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

Ingevity Co. (NYSE:NGVT - Get Free Report) has earned an average rating of "Moderate Buy" from the four analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $52.75.

NGVT has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday. BMO Capital Markets upgraded 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, February 26th. Finally, StockNews.com cut shares of Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th.

Ingevity Stock Up 0.4 %

Shares of NGVT traded up $0.17 during trading hours on Tuesday, hitting $40.46. The company had a trading volume of 260,803 shares, compared to its average volume of 278,289. Ingevity has a 52-week low of $28.49 and a 52-week high of $56.28. The firm has a fifty day moving average price of $37.57 and a 200-day moving average price of $41.78. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.42 and a beta of 1.31. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87.

Ingevity (NYSE:NGVT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.25. The business had revenue of $284.00 million during the quarter, compared to analysts' expectations of $299.13 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The business's revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities research analysts forecast that Ingevity will post 4.45 EPS for the current fiscal year.

Institutional Trading of Ingevity

A number of hedge funds have recently bought and sold shares of NGVT. Charles Schwab Investment Management Inc. grew its stake in shares of Ingevity by 8.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 701,755 shares of the company's stock valued at $27,782,000 after purchasing an additional 55,488 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Ingevity by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 12,389 shares of the company's stock worth $490,000 after buying an additional 292 shares during the last quarter. Mackenzie Financial Corp grew its position in Ingevity by 6.6% during the first quarter. Mackenzie Financial Corp now owns 16,832 shares of the company's stock valued at $666,000 after buying an additional 1,040 shares during the period. Royce & Associates LP grew its position in Ingevity by 5.8% during the first quarter. Royce & Associates LP now owns 1,208,445 shares of the company's stock valued at $47,842,000 after buying an additional 65,847 shares during the period. Finally, KLP Kapitalforvaltning AS raised its position in Ingevity by 2.1% in the first quarter. KLP Kapitalforvaltning AS now owns 122,300 shares of the company's stock worth $4,842,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

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.