Ingevity Co. (NYSE:NGVT) Receives $52.17 Consensus Target Price from Analysts

Ingevity Co. (NYSE:NGVT - Get Free Report) has earned an average rating of "Moderate Buy" from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $52.17.

Separately, BMO Capital Markets lifted their target price on shares of Ingevity from $40.00 to $47.00 and gave the stock a "market perform" rating in a research note on Thursday, October 31st.

Ingevity Stock Up 4.4 %

Shares of NYSE:NGVT traded up $1.68 during trading on Monday, reaching $39.68. The stock had a trading volume of 194,305 shares, compared to its average volume of 230,158. Ingevity has a one year low of $30.90 and a one year high of $56.29. The company has a market capitalization of $1.44 billion, a P/E ratio of -2.56 and a beta of 1.65. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The firm's 50-day simple moving average is $44.28 and its 200 day simple moving average is $40.75.

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

Hedge Funds Weigh In On Ingevity

Several large investors have recently made changes to their positions in NGVT. Segall Bryant & Hamill LLC lifted its stake in shares of Ingevity by 33.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company's stock valued at $46,231,000 after purchasing an additional 297,135 shares during the period. Harvey Partners LLC acquired a new position in shares of Ingevity in the 3rd quarter valued at $7,878,000. State Street Corp lifted its stake in shares of Ingevity by 14.7% in the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company's stock valued at $60,331,000 after purchasing an additional 198,300 shares during the period. Royce & Associates LP lifted its stake in shares of Ingevity by 23.3% in the 3rd 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. Finally, Millennium Management LLC raised its position in Ingevity by 46.9% during the second quarter. Millennium Management LLC now owns 504,552 shares of the company's stock worth $22,054,000 after acquiring an additional 161,014 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.