Ingevity Co. (NYSE:NGVT) Given Consensus Rating of “Moderate Buy” by Analysts

Ingevity Co. (NYSE:NGVT) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $53.83.

NGVT has been the topic of several recent research reports. BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price target on shares of Ingevity from $45.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Finally, StockNews.com downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th.

Ingevity Trading Up 1.3 %

Shares of Ingevity stock opened at $31.49 on Friday. The company’s fifty day moving average is $41.22 and its two-hundred day moving average is $41.87. Ingevity has a 1 year low of $28.49 and a 1 year high of $56.30. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The company has a market capitalization of $1.15 billion, a P/E ratio of -2.66 and a beta of 1.54.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The firm had revenue of $298.80 million during the quarter, compared to the consensus estimate of $297.40 million. Analysts forecast that Ingevity will post 4.45 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Ingevity by 119.1% during the first quarter. GAMMA Investing LLC now owns 1,137 shares of the company’s stock worth $45,000 after purchasing an additional 618 shares during the last quarter. KBC Group NV raised its stake in shares of Ingevity by 27.5% during the 4th quarter. KBC Group NV now owns 2,007 shares of the company’s stock worth $82,000 after buying an additional 433 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Ingevity in the 4th quarter worth about $187,000. O Shaughnessy Asset Management LLC acquired a new stake in Ingevity in the 4th quarter valued at about $214,000. Finally, Teacher Retirement System of Texas purchased a new position in Ingevity during the 4th quarter valued at about $237,000. Hedge funds and other 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.