Analysts Set Ingevity Co. (NYSE:NGVT) PT at $51.00

by · The Cerbat Gem

Ingevity Co. (NYSE:NGVT – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $52.17.

A number of research firms recently issued reports on NGVT. Oppenheimer dropped their price objective on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company dropped their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. CJS Securities upgraded Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a report on Wednesday, August 7th. Finally, BMO Capital Markets boosted their price objective on Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, October 31st.

View Our Latest Stock Analysis on NGVT

Ingevity Stock Performance

NYSE NGVT opened at $43.38 on Wednesday. The company has a market cap of $1.58 billion, a P/E ratio of -2.79 and a beta of 1.60. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The business’s 50 day moving average price is $37.05 and its 200-day moving average price is $42.35. Ingevity has a fifty-two week low of $30.90 and a fifty-two week high of $56.29.

Ingevity (NYSE:NGVT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.50. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The company had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same quarter in the previous year, the business earned $1.21 EPS. Ingevity’s revenue was down 15.5% compared to the same quarter last year. Sell-side analysts predict that Ingevity will post 2.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NGVT. First Horizon Advisors Inc. raised its position in shares of Ingevity by 809.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after acquiring an additional 526 shares in the last quarter. Isthmus Partners LLC bought a new position in shares of Ingevity in the 2nd quarter worth $35,000. Blue Trust Inc. raised its position in shares of Ingevity by 101.8% in the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after acquiring an additional 452 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Ingevity in the 2nd quarter worth $46,000. Finally, nVerses Capital LLC bought a new position in shares of Ingevity in the 3rd quarter worth $113,000. 91.59% of the stock is owned by institutional investors.

About Ingevity

(Get Free Report

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.

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