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

Shares of Ingevity Co. (NYSE:NGVT) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $55.17.

NGVT has been the topic of several analyst reports. StockNews.com upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGVT. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Ingevity in the fourth quarter valued at approximately $1,423,000. Mackenzie Financial Corp bought a new stake in shares of Ingevity in the fourth quarter valued at approximately $644,000. Vision One Management Partners LP raised its position in shares of Ingevity by 265.0% in the fourth quarter. Vision One Management Partners LP now owns 410,678 shares of the company’s stock valued at $16,735,000 after purchasing an additional 298,157 shares during the period. ProShare Advisors LLC raised its position in shares of Ingevity by 43.5% in the fourth quarter. ProShare Advisors LLC now owns 11,858 shares of the company’s stock valued at $483,000 after purchasing an additional 3,595 shares during the period. Finally, Millennium Management LLC raised its position in shares of Ingevity by 5.0% in the fourth quarter. Millennium Management LLC now owns 1,135,231 shares of the company’s stock valued at $46,261,000 after purchasing an additional 53,807 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Stock Up 1.3 %

Shares of NYSE NGVT opened at $43.96 on Monday. The stock has a market capitalization of $1.60 billion, a P/E ratio of -3.71 and a beta of 1.53. The company has a 50-day moving average price of $44.76 and a 200-day moving average price of $42.18. Ingevity has a 1 year low of $30.90 and a 1 year high of $56.30. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share 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 41.44%. The business had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.40 million. On average, equities research analysts forecast that Ingevity will post 4.45 EPS for the current fiscal year.

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.