Ingevity (NYSE:NGVT) Reaches New 12-Month High - What's Next?

Key Points

• Ingevity Corporation's stock reached a new 52-week high of $60.77 during mid-day trading, reflecting increased investor interest with a trading volume of 244,493 shares.
• Analysts have offered revised price targets, with Wells Fargo increasing its target from $38.00 to $48.00 and BMO Capital raising its target from $62.00 to $68.00, indicating strong market confidence.
• Ingevity reported earnings of $1.39 EPS for the last quarter, exceeding expectations, although its revenue of $365.10 million fell short of analyst forecasts.

Shares of Ingevity Corporation (NYSE:NGVT - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $60.77 and last traded at $60.74, with a volume of 244493 shares. The stock had previously closed at $59.77.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NGVT shares. Wall Street Zen upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Wells Fargo & Company increased their target price on shares of Ingevity from $38.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Finally, BMO Capital Markets increased their target price on shares of Ingevity from $62.00 to $68.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ingevity has an average rating of "Moderate Buy" and an average target price of $58.00.

Ingevity Trading Down 1.2%

The company's 50 day moving average price is $51.50 and its 200 day moving average price is $44.02. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -9.76 and a beta of 1.44. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.80 and a current ratio of 1.36.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.02 by $0.37. Ingevity had a negative net margin of 16.35% and a positive return on equity of 84.92%. The company had revenue of $365.10 million for the quarter, compared to analyst estimates of $378.70 million. During the same quarter in the prior year, the business posted $1.01 EPS. Ingevity's quarterly revenue was down 6.5% on a year-over-year basis. Ingevity has set its FY 2025 guidance at EPS. Research analysts anticipate that Ingevity Corporation will post 4.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NGVT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Ingevity by 311.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company's stock valued at $23,769,000 after buying an additional 454,579 shares during the last quarter. Simcoe Capital Management LLC grew its position in Ingevity by 188.8% in the 2nd quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company's stock worth $26,928,000 after purchasing an additional 408,508 shares during the last quarter. Vision One Management Partners LP grew its position in Ingevity by 265.0% in the 4th quarter. Vision One Management Partners LP now owns 410,678 shares of the company's stock worth $16,735,000 after purchasing an additional 298,157 shares during the last quarter. American Century Companies Inc. grew its position in Ingevity by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 1,707,273 shares of the company's stock worth $73,566,000 after purchasing an additional 230,525 shares during the last quarter. Finally, Harvey Partners LLC grew its position in Ingevity by 59.6% in the 2nd quarter. Harvey Partners LLC now owns 572,047 shares of the company's stock worth $24,650,000 after purchasing an additional 213,547 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.