Ingevity Corporation (NYSE:NGVT)‘s stock had its “buy” rating reissued by equities research analysts at Loop Capital in a research note issued to investors on Tuesday. They currently have a $80.00 price objective on the stock. Loop Capital’s price target would suggest a potential upside of 6.41% from the company’s previous close.
Other analysts also recently issued research reports about the company. BidaskClub downgraded Ingevity Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 15th. Jefferies Group LLC boosted their target price on Ingevity Corporation from $71.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. KeyCorp restated a “buy” rating and issued a $70.00 target price on shares of Ingevity Corporation in a research report on Friday, September 8th. Finally, Zacks Investment Research downgraded Ingevity Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Seven investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $73.17.
Shares of Ingevity Corporation (NYSE NGVT) traded up $0.44 on Tuesday, hitting $75.18. The stock had a trading volume of 186,100 shares, compared to its average volume of 247,075. The company has a market cap of $3,147.71, a P/E ratio of 30.26, a PEG ratio of 2.50 and a beta of 1.66. The company has a current ratio of 2.36, a quick ratio of 1.34 and a debt-to-equity ratio of 1.92. Ingevity Corporation has a 12-month low of $47.99 and a 12-month high of $76.00.
Ingevity Corporation (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.11. The firm had revenue of $264.10 million during the quarter, compared to the consensus estimate of $260.88 million. Ingevity Corporation had a return on equity of 58.14% and a net margin of 9.86%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. equities research analysts expect that Ingevity Corporation will post 2.49 EPS for the current year.
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A number of hedge funds have recently made changes to their positions in NGVT. Royal Bank of Canada lifted its position in Ingevity Corporation by 169.9% in the second quarter. Royal Bank of Canada now owns 535,159 shares of the company’s stock valued at $30,718,000 after purchasing an additional 336,897 shares during the last quarter. Marshall Wace North America L.P. increased its stake in shares of Ingevity Corporation by 4,456.0% during the second quarter. Marshall Wace North America L.P. now owns 263,974 shares of the company’s stock valued at $15,046,000 after buying an additional 258,180 shares during the period. Wells Fargo & Company MN increased its stake in shares of Ingevity Corporation by 320.0% during the second quarter. Wells Fargo & Company MN now owns 302,614 shares of the company’s stock valued at $17,370,000 after buying an additional 230,558 shares during the period. TPG Group Holdings SBS Advisors Inc. increased its stake in shares of Ingevity Corporation by 34.3% during the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 887,324 shares of the company’s stock valued at $50,932,000 after buying an additional 226,830 shares during the period. Finally, Chilton Investment Co. LLC increased its stake in shares of Ingevity Corporation by 26.3% during the second quarter. Chilton Investment Co. LLC now owns 1,066,649 shares of the company’s stock valued at $61,226,000 after buying an additional 221,932 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.
About Ingevity Corporation
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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