Ingevity (NYSE:NGVT) Price Target Raised to $38.00 at Wells Fargo & Company

Ingevity (NYSE:NGVT - Get Free Report) had its target price boosted by analysts at Wells Fargo & Company from $32.00 to $38.00 in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential downside of 6.08% from the stock's previous close.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. 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 report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.75.

Ingevity Stock Up 0.4 %

Shares of NYSE NGVT traded up $0.17 during trading on Wednesday, hitting $40.46. 260,803 shares of the company traded hands, compared to its average volume of 278,289. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The business's fifty day moving average is $37.57 and its 200 day moving average is $41.78. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.42 and a beta of 1.31. Ingevity has a fifty-two week low of $28.49 and a fifty-two week high of $56.28.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.25. The business had revenue of $284.00 million for the quarter, compared to analyst estimates of $299.13 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The company's quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. Equities research analysts predict that Ingevity will post 4.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ingevity

Several large investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in shares of Ingevity by 5.4% in the fourth quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company's stock valued at $91,279,000 after purchasing an additional 115,581 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Ingevity by 37.7% during the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company's stock worth $59,388,000 after buying an additional 398,800 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of Ingevity by 8.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,287,281 shares of the company's stock worth $52,457,000 after buying an additional 101,866 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Ingevity by 5.8% in the first quarter. Royce & Associates LP now owns 1,208,445 shares of the company's stock valued at $47,842,000 after acquiring an additional 65,847 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Ingevity by 5.0% during the fourth quarter. Millennium Management LLC now owns 1,135,231 shares of the company's stock valued at $46,261,000 after acquiring an additional 53,807 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Ingevity Company Profile

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.