Ingevity (NYSE:NGVT) Stock Price Up 5.8% - Should You Buy?

Shares of Ingevity Co. (NYSE:NGVT - Get Free Report) traded up 5.8% during trading on Friday . The company traded as high as $35.00 and last traded at $34.98. 41,711 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 251,771 shares. The stock had previously closed at $33.06.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Ingevity from $45.00 to $40.00 and set an "equal weight" rating for the company in a research note on Monday, August 5th. Oppenheimer dropped their price objective on Ingevity from $58.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. CJS Securities raised shares of Ingevity from a "market perform" rating to an "outperform" rating and set a $58.00 price target for the company in a research report on Wednesday, August 7th. Finally, BMO Capital Markets dropped their price target on shares of Ingevity from $42.00 to $40.00 and set a "market perform" rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $51.00.

Ingevity Stock Performance

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's 50-day moving average is $38.14 and its two-hundred day moving average is $44.05. The stock has a market capitalization of $1.35 billion, a P/E ratio of -10.63 and a beta of 1.62.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $390.60 million during the quarter, compared to the consensus estimate of $407.58 million. Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The business's quarterly revenue was down 18.9% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. As a group, sell-side analysts anticipate that Ingevity Co. will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Ingevity

Several large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Ingevity by 3.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company's stock valued at $326,000 after buying an additional 279 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Ingevity by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company's stock worth $743,000 after buying an additional 300 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Ingevity by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company's stock valued at $1,402,000 after buying an additional 388 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Ingevity by 101.8% during the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company's stock valued at $43,000 after acquiring an additional 452 shares during the last quarter. Finally, Catalytic Wealth RIA LLC boosted its stake in shares of Ingevity by 10.4% during the 1st quarter. Catalytic Wealth RIA LLC now owns 5,040 shares of the company's stock worth $240,000 after acquiring an additional 474 shares in the last quarter. 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.