Ingevity (NYSE:NGVT - Free Report ) had its target price lifted by BMO Capital Markets from $50.00 to $55.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a market perform rating on the stock.
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A number of other equities research analysts have also recently commented on the stock. Oppenheimer increased their price target on shares of Ingevity from $50.00 to $58.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on Ingevity from $43.00 to $50.00 and gave the stock an equal weight rating in a research note on Friday, February 23rd. Jefferies Financial Group raised Ingevity from a hold rating to a buy rating and upped their price target for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Finally, Loop Capital lifted their price objective on Ingevity from $49.00 to $56.00 and gave the stock a hold rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Ingevity presently has a consensus rating of Hold and a consensus price target of $55.00.
Check Out Our Latest Report on NGVT
Ingevity Stock Up 0.5 % NGVT stock traded up $0.28 on Wednesday, reaching $54.00. 141,955 shares of the company traded hands, compared to its average volume of 230,537. The firm has a fifty day simple moving average of $47.42 and a 200-day simple moving average of $44.45. The company has a market cap of $1.96 billion, a P/E ratio of -17.36 and a beta of 1.79. Ingevity has a one year low of $36.66 and a one year high of $66.18. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.90 and a quick ratio of 0.98.
Ingevity (NYSE:NGVT - Get Free Report ) last issued its quarterly 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. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The firm had revenue of $340.10 million during the quarter, compared to the consensus estimate of $319.15 million. During the same period last year, the company earned $1.09 earnings per share. The company's revenue was down 13.4% on a year-over-year basis. Research analysts anticipate that Ingevity will post 3.78 earnings per share for the current year.
Institutional Investors Weigh In On Ingevity A number of large investors have recently made changes to their positions in the company. ProShare Advisors LLC lifted its stake in shares of Ingevity by 6.8% in the 1st quarter. ProShare Advisors LLC now owns 7,943 shares of the company's stock worth $379,000 after purchasing an additional 508 shares during the period. Sei Investments Co. raised its position in Ingevity by 9.8% in the first quarter. Sei Investments Co. now owns 131,221 shares of the company's stock worth $6,259,000 after acquiring an additional 11,699 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Ingevity by 49.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 21,642 shares of the company's stock worth $1,032,000 after acquiring an additional 7,150 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of 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 last quarter. Finally, Jennison Associates LLC increased its stake in shares of Ingevity by 8.3% in the 1st quarter. Jennison Associates LLC now owns 21,211 shares of the company's stock worth $1,012,000 after purchasing an additional 1,623 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.
About Ingevity (
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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.
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