Analysts Set Ingevity Co. (NYSE:NGVT) Price Target at $53.83

Ingevity Co. (NYSE:NGVT - Get Free Report) has received an average recommendation of "Moderate Buy" from the six analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $53.83.

NGVT has been the subject of a number of recent analyst reports. StockNews.com downgraded Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and increased their price target for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th.

Institutional Investors Weigh In On Ingevity

Several large investors have recently added to or reduced their stakes in NGVT. GAMMA Investing LLC boosted its position in Ingevity by 119.1% during the first quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock worth $45,000 after purchasing an additional 618 shares during the period. KBC Group NV lifted its stake in shares of Ingevity by 27.5% during the 4th quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after buying an additional 433 shares in the last quarter. Empowered Funds LLC bought a new position in Ingevity in the 4th quarter worth approximately $187,000. O Shaughnessy Asset Management LLC purchased a new position in Ingevity in the 4th quarter valued at approximately $214,000. Finally, Teacher Retirement System of Texas purchased a new position in Ingevity in the 4th quarter valued at approximately $237,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Ingevity Stock Down 1.4 %

Ingevity stock traded down $0.45 during midday trading on Friday, hitting $31.34. 19,711 shares of the stock were exchanged, compared to its average volume of 253,428. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -2.65 and a beta of 1.54. Ingevity has a 52-week low of $28.49 and a 52-week high of $56.29. The business's 50-day moving average price is $41.70 and its 200-day moving average price is $41.99.

Ingevity (NYSE:NGVT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.66. The firm had revenue of $298.80 million for the quarter, compared to the consensus estimate of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. On average, research 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.