Ingevity (NYSE:NGVT) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Ingevity (NYSE:NGVT – Get Rating) in a research report sent to investors on Thursday. The firm issued a hold rating on the stock.

NGVT has been the topic of a number of other research reports. Loop Capital upgraded shares of Ingevity from a hold rating to a buy rating and raised their target price for the stock from $81.00 to $100.00 in a research report on Thursday, February 2nd. Wells Fargo & Company increased their price target on shares of Ingevity from $76.00 to $85.00 and gave the stock an equal weight rating in a research note on Wednesday, March 1st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Ingevity has a consensus rating of Moderate Buy and a consensus target price of $90.67.

Ingevity Stock Down 4.9 %

Shares of NYSE NGVT opened at $68.89 on Thursday. Ingevity has a 1 year low of $58.44 and a 1 year high of $90.81. The firm’s 50 day moving average price is $82.04 and its 200 day moving average price is $73.92. The firm has a market cap of $2.56 billion, a P/E ratio of 12.57 and a beta of 1.83. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.13 and a current ratio of 2.24.

Ingevity (NYSE:NGVT – Get Rating) last announced its earnings results on Monday, February 27th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). Ingevity had a return on equity of 34.63% and a net margin of 12.68%. The firm had revenue of $383.60 million for the quarter, compared to analyst estimates of $395.77 million. During the same quarter last year, the business posted $0.78 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ingevity will post 6.36 earnings per share for the current year.

Insiders Place Their Bets

In other Ingevity news, SVP Richard Allen White, Jr. sold 1,439 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $81.00, for a total transaction of $116,559.00. Following the transaction, the senior vice president now owns 6,530 shares of the company’s stock, valued at $528,930. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Stuart Edward Jr. Woodcock sold 4,968 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $82.14, for a total value of $408,071.52. Following the transaction, the executive vice president now owns 26,541 shares of the company’s stock, valued at approximately $2,180,077.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard Allen White, Jr. sold 1,439 shares of the firm’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $81.00, for a total transaction of $116,559.00. Following the completion of the transaction, the senior vice president now directly owns 6,530 shares in the company, valued at approximately $528,930. The disclosure for this sale can be found here. Insiders have sold a total of 15,254 shares of company stock valued at $1,247,519 over the last quarter. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Ingevity

A number of hedge funds have recently made changes to their positions in NGVT. Ronald Blue Trust Inc. raised its stake in shares of Ingevity by 1,548.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 478 shares of the company’s stock valued at $31,000 after acquiring an additional 449 shares during the period. Quadrant Capital Group LLC increased its stake in Ingevity by 1,694.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 628 shares of the company’s stock worth $38,000 after buying an additional 593 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in Ingevity during the 3rd quarter worth $53,000. Strs Ohio increased its stake in Ingevity by 83.3% during the 4th quarter. Strs Ohio now owns 1,100 shares of the company’s stock worth $77,000 after buying an additional 500 shares during the period. Finally, EMC Capital Management increased its stake in Ingevity by 49.3% during the 2nd quarter. EMC Capital Management now owns 2,031 shares of the company’s stock worth $128,000 after buying an additional 671 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Ingevity Company Profile

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Ingevity Corp. engages in the manufacture of specialty chemicals and carbon materials. It operates through the following segments: Performance Chemicals and Performance Materials. The Performance Materials segment consists of automotive technologies and process purifications product families. Automotive technologies produces automotive carbon products used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats.