Ingevity (NYSE:NGVT) Given New $62.00 Price Target at BMO Capital Markets

Ingevity (NYSE:NGVT - Free Report) had its price target increased by BMO Capital Markets from $61.00 to $62.00 in a report published on Thursday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Ingevity Stock Performance

Ingevity stock traded down $0.64 during mid-day trading on Thursday, reaching $46.11. The company's stock had a trading volume of 319,076 shares, compared to its average volume of 223,149. Ingevity has a 12-month low of $30.90 and a 12-month high of $56.29. The company has a market capitalization of $1.68 billion, a P/E ratio of -3.89 and a beta of 1.64. 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 firm's fifty day moving average price is $43.33 and its two-hundred day moving average price is $41.09.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The business had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. Sell-side analysts predict that Ingevity will post 4.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its holdings in Ingevity by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company's stock valued at $34,000 after purchasing an additional 271 shares during the period. KBC Group NV boosted its holdings in Ingevity by 50.8% in the 3rd quarter. KBC Group NV now owns 1,574 shares of the company's stock valued at $61,000 after purchasing an additional 530 shares during the period. Blue Trust Inc. boosted its holdings in Ingevity by 179.6% in the 3rd quarter. Blue Trust Inc. now owns 2,505 shares of the company's stock valued at $98,000 after purchasing an additional 1,609 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Ingevity by 27.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,880 shares of the company's stock valued at $151,000 after purchasing an additional 831 shares during the period. Finally, Empowered Funds LLC bought a new position in Ingevity in the 4th quarter valued at $187,000. 91.59% of the stock is owned by 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.