Ingevity (NYSE:NGVT) Price Target Raised to $56.00

Ingevity (NYSE:NGVT - Free Report) had its price target boosted by Loop Capital from $49.00 to $56.00 in a research report report published on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group raised Ingevity from a hold rating to a buy rating and boosted their price objective for the stock from $52.00 to $62.00 in a research report on Monday, April 22nd. Oppenheimer boosted their price objective on Ingevity from $50.00 to $58.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company boosted their price objective on Ingevity from $43.00 to $50.00 and gave the stock an equal weight rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Ingevity currently has an average rating of Hold and an average price target of $53.00.

Ingevity Trading Down 0.3 %

NYSE NGVT traded down $0.15 during trading on Tuesday, hitting $53.70. The stock had a trading volume of 242,534 shares, compared to its average volume of 231,480. The company has a market capitalization of $1.95 billion, a PE ratio of -17.27 and a beta of 1.79. The company has a quick ratio of 0.98, a current ratio of 1.90 and a debt-to-equity ratio of 2.48. The firm has a 50 day moving average price of $47.24 and a 200 day moving average price of $44.38. Ingevity has a twelve month low of $36.66 and a twelve month high of $66.18.

Ingevity (NYSE:NGVT - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.15. The company had revenue of $340.10 million during the quarter, compared to the consensus estimate of $319.15 million. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. Ingevity's revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. As a group, equities research analysts forecast that Ingevity will post 3.78 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC grew its position in Ingevity by 1.3% during the 4th quarter. Jennison Associates LLC now owns 19,588 shares of the company's stock worth $925,000 after purchasing an additional 249 shares during the last quarter. First Hawaiian Bank increased its position in Ingevity by 2.5% in the 4th quarter. First Hawaiian Bank now owns 10,160 shares of the company's stock valued at $480,000 after acquiring an additional 250 shares during the period. Savant Capital LLC raised its stake in Ingevity by 0.4% during the 4th quarter. Savant Capital LLC now owns 84,327 shares of the company's stock valued at $3,982,000 after acquiring an additional 342 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in Ingevity by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company's stock worth $1,402,000 after acquiring an additional 388 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Ingevity by 1.1% in the 3rd quarter. Raymond James & Associates now owns 46,519 shares of the company's stock valued at $2,215,000 after purchasing an additional 516 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.