Ingevity (NYSE:NGVT) Cut to "Hold" at StockNews.com

StockNews.com lowered shares of Ingevity (NYSE:NGVT - Free Report) from a buy rating to a hold rating in a research note released on Saturday.

A number of other research firms also recently issued reports on NGVT. BMO Capital Markets raised shares of Ingevity from a "market perform" rating to an "outperform" rating and upped their price target for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their target price on shares of Ingevity from $45.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.83.

Ingevity Price Performance

NGVT traded down $1.14 during trading on Friday, hitting $30.65. 66,630 shares of the company traded hands, compared to its average volume of 273,537. The company has a market cap of $1.12 billion, a PE ratio of -2.59 and a beta of 1.54. Ingevity has a 1 year low of $28.49 and a 1 year high of $56.30. The company has a current ratio of 1.87, a quick ratio of 1.04 and a debt-to-equity ratio of 6.86. The stock's 50-day simple moving average is $41.70 and its two-hundred day simple moving average is $41.99.

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Ingevity (NYSE:NGVT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The firm had revenue of $298.80 million for the quarter, compared to analysts' expectations of $297.40 million. As a group, sell-side analysts anticipate that Ingevity will post 4.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Ingevity by 119.1% during the 1st quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock valued at $45,000 after acquiring an additional 618 shares during the period. KBC Group NV lifted its position in shares of Ingevity by 27.5% during the fourth quarter. KBC Group NV now owns 2,007 shares of the company's stock worth $82,000 after purchasing an additional 433 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Ingevity in the fourth quarter worth about $187,000. O Shaughnessy Asset Management LLC purchased a new position in Ingevity in the 4th quarter worth about $214,000. Finally, Teacher Retirement System of Texas purchased a new position in Ingevity in the 4th quarter worth about $237,000. Hedge funds and other institutional investors 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.