Ingevity (NYSE:NGVT) Raised to “Strong-Buy” at Wall Street Zen

Ingevity (NYSE:NGVT) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ingevity presently has an average rating of “Hold” and a consensus price target of $80.00.

Ingevity Stock Up 1.0%

Shares of Ingevity stock traded up $0.71 during trading on Tuesday, hitting $73.20. 2,840 shares of the stock traded hands, compared to its average volume of 304,233. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 27.83. The stock’s fifty day simple moving average is $71.20 and its 200 day simple moving average is $69.30. The firm has a market cap of $2.55 billion, a P/E ratio of -20.62 and a beta of 1.16. Ingevity has a 52-week low of $39.74 and a 52-week high of $79.29.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.31. Ingevity had a negative net margin of 10.55% and a positive return on equity of 207.82%. The company had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $254.73 million. During the same period in the prior year, the business earned $1.01 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. On average, equities analysts predict that Ingevity will post 5.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ingevity news, SVP Terrance M. Dyer sold 496 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $68.49, for a total transaction of $33,971.04. Following the sale, the senior vice president owned 7,202 shares of the company’s stock, valued at approximately $493,264.98. The trade was a 6.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by company insiders.

Institutional Trading of Ingevity

Large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in shares of Ingevity during the fourth quarter worth about $27,000. Meeder Asset Management Inc. acquired a new position in Ingevity in the 4th quarter worth approximately $33,000. Kestra Advisory Services LLC purchased a new position in Ingevity during the 4th quarter worth approximately $47,000. Geneos Wealth Management Inc. raised its position in Ingevity by 85.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after buying an additional 387 shares during the last quarter. Finally, Frazier Financial Advisors LLC acquired a new stake in Ingevity during the 1st quarter valued at approximately $71,000. 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.