Ingevity (NYSE:NGVT) Hits New 12-Month Low - Here's What Happened

Shares of Ingevity Co. (NYSE:NGVT - Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $30.89 and last traded at $30.34, with a volume of 55063 shares traded. The stock had previously closed at $34.67.

Analysts Set New Price Targets

NGVT has been the topic of several research reports. BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $62.00 to $65.00 in a report on Wednesday, February 26th. StockNews.com upgraded shares of Ingevity from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Finally, Wells Fargo & Company cut their price objective on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Ingevity has a consensus rating of "Moderate Buy" and a consensus price target of $53.83.

Ingevity Trading Up 11.4 %

The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The business's 50-day moving average is $43.19 and its 200 day moving average is $42.33. The firm has a market capitalization of $1.21 billion, a P/E ratio of -2.81 and a beta of 1.54.

Ingevity (NYSE:NGVT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.29 by $0.66. The company had revenue of $298.80 million for the quarter, compared to analysts' expectations of $297.40 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. As a group, analysts anticipate that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Institutional Trading of Ingevity

Several large investors have recently modified their holdings of the stock. KBC Group NV lifted its position 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 purchasing an additional 433 shares during the period. Empowered Funds LLC acquired a new position in shares of Ingevity in the 4th quarter valued at approximately $187,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Ingevity during the 4th quarter worth approximately $214,000. Teacher Retirement System of Texas acquired a new stake in shares of Ingevity during the 4th quarter worth approximately $237,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in Ingevity in the fourth quarter valued at approximately $239,000. 91.59% of the stock is 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.