BMO Capital Markets Boosts Ingevity (NYSE:NGVT) Price Target to $47.00

Ingevity (NYSE:NGVT - Free Report) had its price target boosted by BMO Capital Markets from $40.00 to $47.00 in a research note released on Thursday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Other analysts have also recently issued reports about the stock. Oppenheimer decreased their price objective on shares of Ingevity from $58.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price objective on shares of Ingevity from $45.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Monday, August 5th. Finally, CJS Securities raised shares of Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price objective on the stock in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ingevity currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.17.

Ingevity Price Performance

Shares of Ingevity stock traded up $0.14 during trading on Thursday, hitting $41.79. 583,640 shares of the company's stock traded hands, compared to its average volume of 262,916. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 1.07. The firm's fifty day moving average price is $36.72 and its 200 day moving average price is $42.42. Ingevity has a twelve month low of $30.90 and a twelve month high of $56.29. The company has a market cap of $1.52 billion, a PE ratio of -3.43 and a beta of 1.62.

Ingevity (NYSE:NGVT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.50. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business had revenue of $376.90 million for the quarter, compared to analyst estimates of $376.95 million. During the same period in the previous year, the business earned $1.21 EPS. The firm's revenue was down 15.5% on a year-over-year basis. Analysts forecast that Ingevity will post 2.2 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

A number of hedge funds and other institutional investors have recently made changes to their positions in NGVT. First Horizon Advisors Inc. raised its holdings in shares of Ingevity by 809.2% during the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company's stock worth $26,000 after acquiring an additional 526 shares during the period. Isthmus Partners LLC acquired a new stake in shares of Ingevity during the second quarter worth $35,000. Blue Trust Inc. grew its position in Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company's stock valued at $43,000 after purchasing an additional 452 shares in the last quarter. Headlands Technologies LLC bought a new position in Ingevity in the second quarter valued at $46,000. Finally, nVerses Capital LLC bought a new position in Ingevity in the third quarter valued at $113,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.