Ingevity (NYSE:NGVT) Earns Sell (D-) Rating from Weiss Ratings

Ingevity (NYSE:NGVT)‘s stock had its “sell (d-)” rating reaffirmed by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other analysts also recently issued reports about the company. Wall Street Zen raised Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Wells Fargo & Company increased their price objective on Ingevity from $38.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Finally, BMO Capital Markets increased their price objective on Ingevity from $62.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $58.00.

Ingevity Stock Up 1.7%

NGVT stock opened at $54.38 on Wednesday. The stock’s 50 day simple moving average is $54.96 and its 200 day simple moving average is $45.37. Ingevity has a fifty-two week low of $28.49 and a fifty-two week high of $60.77. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.80 and a current ratio of 1.36. The company has a market cap of $1.98 billion, a P/E ratio of -9.14 and a beta of 1.40.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Monday, August 4th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.37. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%.The business had revenue of $365.10 million for the quarter, compared to the consensus estimate of $378.70 million. During the same period in the prior year, the business earned $1.01 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. Ingevity has set its FY 2025 guidance at EPS. On average, research analysts expect that Ingevity will post 4.45 earnings per share for the current fiscal year.

Institutional Trading of Ingevity

A number of institutional investors and hedge funds have recently modified their holdings of NGVT. Geneos Wealth Management Inc. increased its position in shares of Ingevity by 85.8% during the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after acquiring an additional 387 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Ingevity by 119.1% during the first quarter. GAMMA Investing LLC now owns 1,137 shares of the company’s stock valued at $45,000 after acquiring an additional 618 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Ingevity during the second quarter valued at approximately $46,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Ingevity during the second quarter valued at approximately $60,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Ingevity by 21.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company’s stock valued at $66,000 after acquiring an additional 297 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

About Ingevity

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.