Ingevity Co. (NYSE:NGVT) Receives $52.20 Average PT from Brokerages

Ingevity Co. (NYSE:NGVT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the four brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $52.75.

A number of equities analysts have recently weighed in on the company. StockNews.com downgraded Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. BMO Capital Markets raised shares of Ingevity from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday.

Hedge Funds Weigh In On Ingevity

Several hedge funds have recently bought and sold shares of the company. Barclays PLC raised its stake in Ingevity by 245.3% in 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 in the last quarter. Synovus Financial Corp boosted its stake in shares of Ingevity by 22.0% in the 3rd quarter. Synovus Financial Corp now owns 13,697 shares of the company's stock valued at $534,000 after purchasing an additional 2,471 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Ingevity by 24.9% during the third quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company's stock valued at $4,586,000 after buying an additional 23,460 shares during the period. Moody National Bank Trust Division increased its holdings in shares of Ingevity by 12.4% in the fourth quarter. Moody National Bank Trust Division now owns 41,837 shares of the company's stock worth $1,705,000 after buying an additional 4,608 shares during the period. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Ingevity in the fourth quarter valued at approximately $239,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Up 0.4 %

Shares of Ingevity stock traded up $0.17 during trading hours on Tuesday, reaching $40.46. The company's stock had a trading volume of 260,803 shares, compared to its average volume of 278,867. The company has a market capitalization of $1.47 billion, a P/E ratio of -3.42 and a beta of 1.31. The stock's fifty day simple moving average is $37.49 and its two-hundred day simple moving average is $41.90. Ingevity has a one year low of $28.49 and a one year high of $56.28. 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 quarterly earnings data on Wednesday, May 7th. The company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.25. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The firm had revenue of $284.00 million during the quarter, compared to analyst estimates of $299.13 million. During the same period in the previous year, the company posted $0.47 EPS. The company's revenue for the quarter was down 16.5% on a year-over-year basis. On average, research analysts forecast that Ingevity will post 4.45 earnings per share for the current year.

Ingevity Company Profile

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.