Ingevity Co. (NYSE:NGVT) Receives Average Recommendation of "Moderate Buy" from Brokerages

Ingevity Co. (NYSE:NGVT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $51.00.

Several research firms have recently weighed in on NGVT. Wells Fargo & Company dropped their target price on shares of Ingevity from $45.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, August 5th. CJS Securities raised Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a report on Wednesday, August 7th. Oppenheimer decreased their target price on Ingevity from $58.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st. Finally, BMO Capital Markets reduced their price objective on Ingevity from $42.00 to $40.00 and set a "market perform" rating on the stock in a research note on Monday, September 30th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NGVT. Wellington Management Group LLP grew its stake in shares of Ingevity by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company's stock worth $101,446,000 after purchasing an additional 80,856 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Ingevity in the 1st quarter valued at about $522,000. Vanguard Group Inc. increased its stake in Ingevity by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company's stock valued at $176,760,000 after buying an additional 153,530 shares during the period. Swedbank AB acquired a new stake in shares of Ingevity in the 1st quarter worth approximately $3,372,000. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Ingevity by 22.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 271,530 shares of the company's stock worth $12,822,000 after acquiring an additional 49,620 shares during the period. Institutional investors own 91.59% of the company's stock.

Ingevity Stock Up 12.0 %

Shares of NYSE NGVT traded up $3.98 during midday trading on Friday, reaching $37.04. 899,341 shares of the company's stock were exchanged, compared to its average volume of 256,238. The stock has a market capitalization of $1.35 billion, a PE ratio of -11.91 and a beta of 1.62. Ingevity has a 52-week low of $30.90 and a 52-week high of $56.29. The company has a debt-to-equity ratio of 4.92, a quick ratio of 1.07 and a current ratio of 1.92. The business's fifty day moving average price is $37.95 and its two-hundred day moving average price is $43.99.

Ingevity (NYSE:NGVT - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.04). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business had revenue of $390.60 million during the quarter, compared to analyst estimates of $407.58 million. During the same period in the previous year, the company earned $1.41 earnings per share. The business's revenue for the quarter was down 18.9% on a year-over-year basis. Analysts forecast that Ingevity will post 2.63 EPS 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.