Ingevity Co. (NYSE:NGVT) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Ingevity Co. (NYSE:NGVT - Get Free Report) have received an average recommendation of "Moderate Buy" from the six research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $55.17.

A number of research analysts recently issued reports on NGVT shares. StockNews.com upgraded Ingevity from a "hold" rating to a "buy" rating in a research report on Thursday, February 20th. BMO Capital Markets upgraded Ingevity from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $62.00 to $65.00 in a research report on Wednesday, February 26th.

Ingevity Stock Performance

Shares of NYSE NGVT traded down $1.16 during trading on Monday, reaching $43.09. The stock had a trading volume of 178,187 shares, compared to its average volume of 255,731. Ingevity has a one year low of $30.90 and a one year high of $56.30. 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 stock has a market cap of $1.57 billion, a PE ratio of -3.64 and a beta of 1.53. The firm's 50 day moving average price is $45.09 and its two-hundred day moving average price is $42.25.

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Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings results 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 positive return on equity of 41.44% and a negative net margin of 30.60%. The business had revenue of $298.80 million during the quarter, compared to the consensus estimate of $297.40 million. On average, research analysts forecast that Ingevity will post 4.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NGVT. First Horizon Advisors Inc. boosted its position in Ingevity by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company's stock worth $34,000 after acquiring an additional 271 shares during the period. KBC Group NV boosted its position in Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company's stock worth $61,000 after acquiring an additional 530 shares during the period. Empowered Funds LLC acquired a new stake in shares of Ingevity in the fourth quarter valued at $187,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Ingevity in the fourth quarter valued at $214,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Ingevity in the third quarter valued at $231,000. Institutional investors and hedge funds own 91.59% of the company's stock.

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.