Ingevity Co. (NYSE:NGVT) Given Average Recommendation of “Moderate Buy” by Brokerages

Ingevity Co. (NYSE:NGVT) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, 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 1-year price objective among analysts that have updated their coverage on the stock in the last year is $52.17.

Separately, BMO Capital Markets lifted their price target on shares of Ingevity from $61.00 to $62.00 and gave the stock a “market perform” rating in a research note on Thursday.

Ingevity Stock Down 2.1 %

Shares of NYSE:NGVT traded down $1.02 during trading on Thursday, reaching $47.24. 12,982 shares of the stock traded hands, compared to its average volume of 206,663. 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 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The stock has a 50-day moving average of $43.33 and a two-hundred day moving average of $40.98. The stock has a market cap of $1.72 billion, a P/E ratio of -4.02 and a beta of 1.64.

Ingevity (NYSE:NGVT) 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 negative net margin of 30.60% and a positive return on equity of 36.76%. The company had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. As a group, sell-side analysts expect that Ingevity will post 4.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ingevity

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of Ingevity by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock valued at $91,279,000 after purchasing an additional 115,581 shares in the last quarter. State Street Corp raised its holdings in shares of Ingevity by 14.7% in the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company’s stock valued at $60,331,000 after purchasing an additional 198,300 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Ingevity by 37.7% in the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock valued at $59,388,000 after purchasing an additional 398,800 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Ingevity by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,383,053 shares of the company’s stock valued at $53,939,000 after purchasing an additional 23,497 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Ingevity by 8.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,287,281 shares of the company’s stock valued at $52,457,000 after purchasing an additional 101,866 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.