Ingevity Co. (NYSE:NGVT) Given Average Recommendation of "Moderate Buy" by Brokerages

Ingevity Co. (NYSE:NGVT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $52.17.

Separately, BMO Capital Markets upped their target price on Ingevity from $40.00 to $47.00 and gave the company a "market perform" rating in a report on Thursday, October 31st.

Ingevity Stock Down 2.1 %

NYSE:NGVT traded down $0.86 during trading hours on Thursday, hitting $40.75. 228,174 shares of the company traded hands, compared to its average volume of 264,938. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 6.52. The company has a market cap of $1.48 billion, a PE ratio of -2.62 and a beta of 1.62. The firm's 50-day simple moving average is $42.71 and its 200-day simple moving average is $41.45. Ingevity has a one year low of $30.90 and a one year high of $56.29.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The company had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. During the same period last year, the firm earned $1.21 earnings per share. The firm's revenue was down 15.5% on a year-over-year basis. Equities analysts predict that Ingevity will post 2.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Segall Bryant & Hamill LLC grew its stake in shares of Ingevity by 33.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company's stock worth $46,231,000 after acquiring an additional 297,135 shares during the period. Mesirow Institutional Investment Management Inc. purchased a new stake in Ingevity during the second quarter valued at about $11,416,000. Harvey Partners LLC bought a new position in Ingevity during the third quarter worth about $7,878,000. State Street Corp increased its stake in shares of Ingevity by 14.7% in the third quarter. State Street Corp now owns 1,546,957 shares of the company's stock worth $60,331,000 after purchasing an additional 198,300 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of Ingevity by 23.3% in the third quarter. Royce & Associates LP now owns 933,677 shares of the company's stock valued at $36,413,000 after purchasing an additional 176,447 shares during the period. 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.