Ingevity (NYSE:NGVT) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Ingevity (NYSE:NGVT) from a strong-buy rating to a buy rating in a report released on Saturday morning.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $80.00.

Ingevity Trading Up 4.2%

NYSE:NGVT opened at $73.16 on Friday. The firm has a market cap of $2.54 billion, a PE ratio of 49.77 and a beta of 1.16. The stock has a fifty day moving average price of $71.76 and a 200 day moving average price of $70.97. Ingevity has a 12-month low of $39.74 and a 12-month high of $79.29. The company has a current ratio of 1.61, a quick ratio of 0.92 and a debt-to-equity ratio of 22.52.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, July 29th. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.33 by $0.41. The firm had revenue of $314.10 million during the quarter, compared to analysts’ expectations of $312.20 million. Ingevity had a return on equity of 284.70% and a net margin of 4.65%.Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. Sell-side analysts anticipate that Ingevity will post 5.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Ingevity

In other 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 completion of the sale, the senior vice president owned 7,202 shares in the company, valued at approximately $493,264.98. The trade was a 6.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Ingevity

Several hedge funds and other institutional investors have recently bought and sold shares of NGVT. Principal Financial Group Inc. increased its position in shares of Ingevity by 269.9% during the fourth quarter. Principal Financial Group Inc. now owns 652,237 shares of the company’s stock worth $38,599,000 after purchasing an additional 475,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Ingevity by 311.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock valued at $23,769,000 after purchasing an additional 454,579 shares during the period. Simcoe Capital Management LLC grew its stake in Ingevity by 188.8% during the 2nd quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock worth $26,928,000 after buying an additional 408,508 shares during the last quarter. Boston Partners grew its stake in Ingevity by 141.6% during the 4th quarter. Boston Partners now owns 620,360 shares of the company’s stock worth $36,719,000 after buying an additional 363,584 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in Ingevity by 465.9% during the first quarter. Bessemer Group Inc. now owns 314,739 shares of the company’s stock worth $22,419,000 after buying an additional 259,124 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.