Ingevity Corp (NASDAQ:NGVT)‘s stock had its “buy” rating reissued by investment analysts at Loop Capital in a report released on Tuesday. They currently have a $80.00 price objective on the stock, up from their previous price objective of $76.00. Loop Capital’s price objective indicates a potential upside of 6.82% from the company’s current price.
NGVT has been the topic of a number of other reports. KeyCorp reaffirmed a “buy” rating and set a $70.00 price objective on shares of Ingevity Corp in a report on Friday, September 8th. Zacks Investment Research raised shares of Ingevity Corp from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub raised shares of Ingevity Corp from a “strong sell” rating to a “sell” rating in a report on Friday, September 22nd. Finally, Jefferies Group LLC boosted their price target on shares of Ingevity Corp from $71.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Seven analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $73.17.
Shares of Ingevity Corp (NGVT) traded up $0.15 during mid-day trading on Tuesday, reaching $74.89. 69,643 shares of the company’s stock were exchanged, compared to its average volume of 228,717. Ingevity Corp has a fifty-two week low of $46.66 and a fifty-two week high of $76.00.
Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.11. The business had revenue of $264.10 million during the quarter, compared to analyst estimates of $260.88 million. Ingevity Corp had a net margin of 14.54% and a return on equity of 66.54%. Ingevity Corp’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGVT. Pacad Investment Ltd. bought a new stake in shares of Ingevity Corp during the second quarter valued at about $183,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ingevity Corp during the second quarter valued at about $203,000. Balyasny Asset Management LLC bought a new stake in shares of Ingevity Corp during the second quarter valued at about $213,000. Flagship Harbor Advisors LLC bought a new stake in shares of Ingevity Corp during the third quarter valued at about $216,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Ingevity Corp during the third quarter valued at about $218,000.
About Ingevity Corp
Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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