Ingevity (NYSE:NGVT) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Ingevity (NYSE:NGVT) from a hold rating to a buy rating in a report issued on Monday, MarketBeat Ratings reports. Jefferies Financial Group currently has $62.00 price target on the stock, up from their prior price target of $52.00.

Separately, Wells Fargo & Company raised their price objective on shares of Ingevity from $43.00 to $50.00 and gave the company an equal weight rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Ingevity has a consensus rating of Hold and an average target price of $51.40.

Ingevity Stock Down 0.7 %

Shares of NYSE NGVT opened at $47.87 on Monday. The company has a 50 day simple moving average of $46.40 and a 200 day simple moving average of $43.69. The firm has a market cap of $1.74 billion, a PE ratio of -217.59 and a beta of 1.85. Ingevity has a 1 year low of $36.66 and a 1 year high of $72.76. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.81 and a quick ratio of 0.96.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.34. The business had revenue of $371.70 million during the quarter, compared to analyst estimates of $336.74 million. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business earned $0.57 EPS. On average, research analysts forecast that Ingevity will post 3.69 EPS for the current year.

Institutional Trading of Ingevity

Several hedge funds have recently modified their holdings of the stock. Jennison Associates LLC increased its stake in shares of Ingevity by 1.3% in the 4th quarter. Jennison Associates LLC now owns 19,588 shares of the company’s stock valued at $925,000 after acquiring an additional 249 shares in the last quarter. First Hawaiian Bank grew 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 purchasing an additional 250 shares during the period. Savant Capital LLC grew its position in Ingevity by 0.4% in the 4th quarter. Savant Capital LLC now owns 84,327 shares of the company’s stock valued at $3,982,000 after purchasing an additional 342 shares during the period. Raymond James & Associates grew its position in 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 period. Finally, Pathstone Family Office LLC grew its position in Ingevity by 22.1% in the 3rd quarter. Pathstone Family Office LLC now owns 4,430 shares of the company’s stock valued at $211,000 after purchasing an additional 803 shares during the period. Institutional investors own 91.59% of the company’s stock.

Ingevity Company Profile

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.