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

Ingevity Co. (NYSE:NGVT - Get Free Report) has been given an average rating of "Moderate Buy" by the six ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $53.83.

Several research firms recently weighed in on NGVT. Wells Fargo & Company reduced their target price on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. StockNews.com lowered Ingevity from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, BMO Capital Markets upgraded shares of Ingevity from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $62.00 to $65.00 in a research note on Wednesday, February 26th.

Hedge Funds Weigh In On Ingevity

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Ingevity by 119.1% during the 1st quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock worth $45,000 after acquiring an additional 618 shares during the last quarter. KBC Group NV raised its holdings in shares of Ingevity by 27.5% in the fourth quarter. KBC Group NV now owns 2,007 shares of the company's stock valued at $82,000 after buying an additional 433 shares during the last quarter. Empowered Funds LLC acquired a new position in Ingevity during the 4th quarter worth about $187,000. O Shaughnessy Asset Management LLC bought a new stake in Ingevity during the 4th quarter worth about $214,000. Finally, Teacher Retirement System of Texas acquired a new stake in Ingevity in the 4th quarter valued at about $237,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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Ingevity Stock Performance

Shares of Ingevity stock traded up $0.05 during trading on Friday, reaching $31.79. The company's stock had a trading volume of 118,327 shares, compared to its average volume of 273,362. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -2.68 and a beta of 1.54. The business's fifty day moving average price is $41.94 and its 200-day moving average price is $42.07. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. Ingevity has a one year low of $28.49 and a one year high of $56.30.

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

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.