Ingevity Corp (NASDAQ:NGVT) Given Consensus Recommendation of “Buy” by Brokerages
Ingevity Corp (NASDAQ:NGVT) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the stock. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $48.60.
Several equities analysts recently issued reports on the company. Buckingham Research assumed coverage on Ingevity Corp in a research report on Friday. They issued a “neutral” rating for the company. Jefferies Group assumed coverage on Ingevity Corp in a research report on Friday. They issued a “buy” rating and a $57.00 price objective for the company. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $50.00 price objective (up from $44.00) on shares of Ingevity Corp in a research report on Wednesday, September 7th. Zacks Investment Research upgraded Ingevity Corp from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, August 9th. Finally, SunTrust Banks Inc. reiterated a “buy” rating on shares of Ingevity Corp in a research report on Saturday, August 6th.
Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new position in Ingevity Corp during the second quarter worth $135,000. PineBridge Investments L.P. purchased a new position in Ingevity Corp during the second quarter worth $181,000. Ancora Advisors LLC purchased a new position in Ingevity Corp during the second quarter worth $200,000. Teacher Retirement System of Texas purchased a new position in Ingevity Corp during the second quarter worth $202,000. Finally, Burney Co. purchased a new position in Ingevity Corp during the second quarter worth $219,000.
Shares of Ingevity Corp (NASDAQ:NGVT) traded up 0.48% during trading on Friday, reaching $47.92. The company’s stock had a trading volume of 139,219 shares. The stock’s 50 day moving average price is $44.16 and its 200 day moving average price is $38.04. The company has a market cap of $2.02 billion and a PE ratio of 32.03. Ingevity Corp has a 52 week low of $23.00 and a 52 week high of $48.00.
Ingevity Corp (NASDAQ:NGVT) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.15. Equities research analysts predict that Ingevity Corp will post $1.92 EPS for the current year.
About Ingevity Corp
Ingevity Corporation is a manufacturer of specialty chemicals, carbon materials and technologies. The Company operates through two segments: Performance Materials and Performance Chemicals. The Company’s specialty chemicals products serve as inputs used in a range of high performance applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants and printing inks.
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