Ingevity Co. (NYSE:NGVT) Given Consensus Recommendation of "Moderate Buy" by Analysts

Ingevity Co. (NYSE:NGVT - Get Free Report) has received a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $52.17.

A number of analysts have recently commented on NGVT shares. Oppenheimer cut their price objective on shares of Ingevity from $58.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company reduced 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 target price on the stock in a research note on Wednesday, August 7th. Finally, BMO Capital Markets lifted their price target on Ingevity from $40.00 to $47.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NGVT. Geode Capital Management LLC increased its stake in shares of Ingevity by 4.3% in the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company's stock valued at $31,817,000 after buying an additional 33,973 shares during the period. Vestcor Inc acquired a new position in shares of Ingevity in the third quarter valued at approximately $796,000. Barclays PLC increased its stake in shares of Ingevity by 245.3% in the third quarter. Barclays PLC now owns 66,761 shares of the company's stock valued at $2,603,000 after buying an additional 47,429 shares during the period. XTX Topco Ltd acquired a new position in shares of Ingevity in the third quarter valued at approximately $260,000. Finally, Villanova Investment Management Co LLC increased its stake in shares of Ingevity by 30.4% in the third quarter. Villanova Investment Management Co LLC now owns 48,459 shares of the company's stock valued at $1,890,000 after buying an additional 11,305 shares during the period. Institutional investors own 91.59% of the company's stock.

Ingevity Trading Up 0.3 %

NGVT stock traded up $0.15 during midday trading on Friday, reaching $48.56. The company's stock had a trading volume of 265,281 shares, compared to its average volume of 399,596. Ingevity has a 52 week low of $30.90 and a 52 week high of $56.29. The stock has a market cap of $1.77 billion, a PE ratio of -3.13 and a beta of 1.60. 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 business's 50-day simple moving average is $39.55 and its 200-day simple moving average is $42.01.

Ingevity (NYSE:NGVT - Get Free Report) last announced 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 firm had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The business's revenue was down 15.5% on a year-over-year basis. As a group, sell-side analysts expect that Ingevity will post 2.55 EPS for the current year.

About Ingevity

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.