Ingevity (NYSE:NGVT) Stock Rating Lowered by Wall Street Zen

Ingevity (NYSE:NGVT) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Monday.

NGVT has been the topic of a number of other research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $83.00 target price on shares of Ingevity in a research report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Jefferies Financial Group restated a “buy” rating and set a $82.00 price objective on shares of Ingevity in a research note on Thursday, February 26th. Wells Fargo & Company upped their price objective on shares of Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Finally, Zacks Research raised shares of Ingevity to a “hold” rating in a report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $80.00.

Ingevity Stock Performance

Shares of NGVT stock opened at $65.45 on Monday. The business has a fifty day moving average of $68.38 and a 200 day moving average of $59.81. Ingevity has a 1 year low of $28.49 and a 1 year high of $77.46. The company has a debt-to-equity ratio of 39.10, a current ratio of 1.33 and a quick ratio of 0.79. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -14.08 and a beta of 1.31.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.16). The firm had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $257.27 million. Ingevity had a negative net margin of 13.51% and a positive return on equity of 126.25%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. As a group, research analysts expect that Ingevity will post 4.45 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

Several hedge funds have recently bought and sold shares of NGVT. AQR Capital Management LLC increased its holdings in shares of Ingevity by 10.9% during the 1st quarter. AQR Capital Management LLC now owns 13,410 shares of the company’s stock valued at $518,000 after purchasing an additional 1,323 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ingevity by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,790 shares of the company’s stock valued at $863,000 after acquiring an additional 1,080 shares during the period. Empowered Funds LLC increased its stake in shares of Ingevity by 12.9% in the 1st quarter. Empowered Funds LLC now owns 5,181 shares of the company’s stock valued at $205,000 after purchasing an additional 594 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 in the last quarter. Finally, Jane Street Group LLC raised its holdings in Ingevity by 306.1% in the 1st quarter. Jane Street Group LLC now owns 88,883 shares of the company’s stock worth $3,519,000 after purchasing an additional 66,995 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

About Ingevity

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.