Ingevity (NYSE:NGVT) Shares Gap Down - What's Next?

Key Points

• Ingevity shares gapped down from a prior close of $73.99 to open at $69.88, later trading near $69.43. The stock is down 1.7%, with a market capitalization of approximately $2.41 billion.
• Analysts maintain a generally cautious view, with two Buy ratings and three Hold ratings producing an overall “Hold” consensus and an average price target of $80.00.
• Despite the share-price decline, Ingevity exceeded quarterly expectations, reporting EPS of $1.74 versus the $1.33 consensus and revenue of $314.1 million versus estimates of $312.2 million. Insiders sold 18,297 shares worth about $1.38 million over the past 90 days.

Ingevity Corporation (NYSE:NGVT - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $73.99, but opened at $69.88. Ingevity shares last traded at $69.4310, with a volume of 10,741 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NGVT. Weiss Ratings upgraded shares of Ingevity from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Friday, July 31st. Wall Street Zen cut Ingevity from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $80.00.

Ingevity Stock Down 1.7%

The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 22.52. The business has a fifty day simple moving average of $73.91 and a two-hundred day simple moving average of $71.82. The company has a market cap of $2.41 billion, a PE ratio of 47.61 and a beta of 1.16.

Ingevity (NYSE:NGVT - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.41. The business had revenue of $314.10 million during the quarter, compared to analyst estimates of $312.20 million. Ingevity had a net margin of 4.65% and a return on equity of 284.70%. Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. As a group, equities research analysts predict that Ingevity Corporation will post 5.4 earnings per share for the current year.

Insider Activity

In related news, SVP Ryan C. Fisher sold 2,709 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.72, for a total value of $199,707.48. Following the completion of the sale, the senior vice president owned 15,722 shares of the company's stock, valued at approximately $1,159,025.84. This trade represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Terrance M. Dyer sold 496 shares of Ingevity stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $68.49, for a total value of $33,971.04. Following the transaction, the senior vice president owned 7,202 shares in the company, valued at approximately $493,264.98. The trade was a 6.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,297 shares of company stock worth $1,381,452 over the last ninety days. Corporate insiders own 0.88% of the company's stock.

Institutional Investors Weigh In On Ingevity

Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Ingevity during the fourth quarter worth about $27,000. Frazier Financial Advisors LLC purchased a new stake in shares of Ingevity in the 2nd quarter valued at approximately $37,000. Meeder Asset Management Inc. acquired a new stake in shares of Ingevity during the 4th quarter worth approximately $33,000. Kestra Advisory Services LLC purchased a new stake in shares of Ingevity during the 4th quarter valued at approximately $47,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company's stock valued at $36,000 after acquiring an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

About Ingevity

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.

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