Ingevity (NYSE:NGVT) Rating Increased to Strong-Buy at Wall Street Zen

Ingevity (NYSE:NGVT - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Friday.

NGVT has been the subject of several other reports. Wells Fargo & Company boosted their price target on Ingevity from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. BMO Capital Markets raised shares of Ingevity from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $52.75.

Ingevity Stock Performance

NGVT stock traded up $0.86 during trading on Friday, reaching $42.00. The stock had a trading volume of 187,351 shares, compared to its average volume of 278,616. Ingevity has a 52 week low of $28.49 and a 52 week high of $51.67. The stock's 50 day moving average is $36.98 and its two-hundred day moving average is $41.85. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The firm has a market cap of $1.53 billion, a PE ratio of -3.55 and a beta of 1.31.

Ingevity (NYSE:NGVT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.25. The firm had revenue of $284.00 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. As a group, equities analysts anticipate that Ingevity will post 4.45 earnings per share for the current year.

Institutional Trading of Ingevity

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC grew its position in shares of Ingevity by 245.3% in the 3rd quarter. Barclays PLC now owns 66,761 shares of the company's stock worth $2,603,000 after acquiring an additional 47,429 shares in the last quarter. KBC Group NV boosted its holdings in Ingevity by 27.5% during the fourth quarter. KBC Group NV now owns 2,007 shares of the company's stock worth $82,000 after buying an additional 433 shares in the last quarter. Empowered Funds LLC purchased a new position in Ingevity in the 4th quarter worth about $187,000. Principal Financial Group Inc. raised its stake in Ingevity by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 177,382 shares of the company's stock valued at $7,228,000 after purchasing an additional 5,189 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in shares of Ingevity by 3.0% in the 4th quarter. New York State Common Retirement Fund now owns 164,666 shares of the company's stock valued at $6,710,000 after purchasing an additional 4,840 shares during the period. Institutional investors and hedge funds 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.

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