Ingevity Co. (NYSE:NGVT) Receives $51.00 Consensus Target Price from Brokerages

Ingevity Co. (NYSE:NGVT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the company, MarketBeat Ratings reports. Three 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 analysts that have covered the stock in the last year is $51.00.

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

Institutional Investors Weigh In On Ingevity

Several hedge funds have recently bought and sold shares of the stock. UniSuper Management Pty Ltd purchased a new position in shares of Ingevity during the first quarter worth approximately $522,000. Vanguard Group Inc. lifted its stake in Ingevity by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company's stock worth $176,760,000 after purchasing an additional 153,530 shares during the last quarter. Swedbank AB purchased a new stake in Ingevity during the first quarter valued at about $3,372,000. American Century Companies Inc. grew its stake in shares of Ingevity by 7.6% during the second quarter. American Century Companies Inc. now owns 765,588 shares of the company's stock valued at $33,464,000 after buying an additional 53,839 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Ingevity in the first quarter worth about $211,000. 91.59% of the stock is currently owned by institutional investors.

Ingevity Price Performance

NYSE NGVT traded up $6.33 during trading on Wednesday, hitting $41.65. 1,076,836 shares of the company's stock were exchanged, compared to its average volume of 261,389. The stock's 50 day moving average price is $36.63 and its two-hundred day moving average price is $42.43. Ingevity has a fifty-two week low of $30.90 and a fifty-two week high of $56.29. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92. The company has a market cap of $1.51 billion, a PE ratio of -3.52 and a beta of 1.62.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, beating 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 positive return on equity of 19.59% and a negative net margin of 27.85%. Ingevity's revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 EPS. Research analysts expect that Ingevity will post 2.2 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.