Ingevity (NYSE:NGVT) Stock Rating Upgraded by Zacks Research

Ingevity (NYSE:NGVT) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the stock. BMO Capital Markets upped their price target on shares of Ingevity from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Wall Street Zen cut Ingevity from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Wells Fargo & Company boosted their price objective on Ingevity from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.50.

Ingevity Price Performance

Shares of Ingevity stock opened at $58.31 on Tuesday. The firm has a market capitalization of $2.10 billion, a PE ratio of -32.04 and a beta of 1.40. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 8.39. Ingevity has a 12 month low of $28.49 and a 12 month high of $61.77. The business’s 50-day moving average price is $53.24 and its 200-day moving average price is $51.13.

Ingevity (NYSE:NGVT) last issued its earnings results on Friday, March 24th. The company reported $0.78 earnings per share (EPS) for the quarter. The business had revenue of $336.00 million during the quarter. Ingevity had a positive return on equity of 103.69% and a negative net margin of 5.14%. Sell-side analysts forecast that Ingevity will post 4.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Ingevity

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Ingevity by 311.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock valued at $23,769,000 after purchasing an additional 454,579 shares during the period. Simcoe Capital Management LLC raised its holdings in Ingevity by 188.8% in the second quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock worth $26,928,000 after purchasing an additional 408,508 shares in the last quarter. Boston Partners purchased a new position in Ingevity during the third quarter valued at $14,171,000. American Century Companies Inc. boosted its holdings in shares of Ingevity by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 1,707,273 shares of the company’s stock valued at $73,566,000 after buying an additional 230,525 shares in the last quarter. Finally, Harvey Partners LLC boosted its holdings in shares of Ingevity by 59.6% during the 2nd quarter. Harvey Partners LLC now owns 572,047 shares of the company’s stock valued at $24,650,000 after buying an additional 213,547 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.