Ingevity (NYSE:NGVT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ingevity (NYSE:NGVT) from a buy rating to a strong-buy rating in a report issued on Sunday.

NGVT has been the subject of several other reports. Wells Fargo & Company upped their target price on Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Jefferies Financial Group reissued a “buy” rating and issued a $82.00 price objective on shares of Ingevity in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a research note on Thursday, January 22nd. Zacks Research upgraded Ingevity to a “hold” rating in a research note on Tuesday, December 16th. Finally, BMO Capital Markets raised their price objective on shares of Ingevity from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $80.00.

Ingevity Price Performance

NGVT opened at $70.66 on Friday. Ingevity has a 1 year low of $28.49 and a 1 year high of $77.46. The company has a debt-to-equity ratio of 39.10, a current ratio of 1.33 and a quick ratio of 0.79. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -15.20 and a beta of 1.31. The firm’s fifty day moving average price is $67.69 and its two-hundred day moving average price is $59.42.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). Ingevity had a negative net margin of 13.51% and a positive return on equity of 126.25%. The firm had revenue of $255.10 million for the quarter, compared to the consensus estimate of $257.27 million. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. As a group, analysts anticipate that Ingevity will post 4.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ingevity

Large investors have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in shares of Ingevity during the 4th quarter valued at approximately $27,000. Oakworth Capital Inc. bought a new stake in Ingevity during the 3rd quarter valued at $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Ingevity during the fourth quarter worth $33,000. Geneos Wealth Management Inc. boosted its holdings in shares of Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after acquiring an additional 387 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Ingevity in the second quarter worth $46,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

About Ingevity

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.