Ingevity (NYSE:NGVT) PT Raised to $55.00

Ingevity (NYSE:NGVT) had its price objective boosted by investment analysts at BMO Capital Markets from $50.00 to $55.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 1.78% from the stock’s previous close.

NGVT has been the topic of several other research reports. Wells Fargo & Company upped their target price on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Oppenheimer increased their target price on Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $62.00 in a research note on Monday, April 22nd. Finally, Loop Capital boosted their price target on Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.00.

Ingevity Trading Up 0.6 %

NYSE:NGVT traded up $0.32 on Wednesday, reaching $54.04. The company’s stock had a trading volume of 21,759 shares, compared to its average volume of 229,168. Ingevity has a 1-year low of $36.66 and a 1-year high of $66.18. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.98 and a current ratio of 1.90. The firm has a market cap of $1.96 billion, a PE ratio of -17.37 and a beta of 1.79. The business’s 50-day moving average price is $47.24 and its two-hundred day moving average price is $44.38.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. The company had revenue of $340.10 million for the quarter, compared to analyst estimates of $319.15 million. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 earnings per share. Equities research analysts anticipate that Ingevity will post 3.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund raised its position in Ingevity by 3.2% in the 4th quarter. New York State Common Retirement Fund now owns 184,783 shares of the company’s stock valued at $8,725,000 after buying an additional 5,771 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Ingevity by 57.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock valued at $87,572,000 after buying an additional 677,718 shares during the period. Assenagon Asset Management S.A. bought a new position in Ingevity in the 4th quarter valued at $2,530,000. Wedge Capital Management L L P NC boosted its stake in Ingevity by 28.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 137,106 shares of the company’s stock valued at $6,474,000 after buying an additional 30,201 shares during the period. Finally, Rice Hall James & Associates LLC raised its stake in Ingevity by 11.5% in the third quarter. Rice Hall James & Associates LLC now owns 410,033 shares of the company’s stock valued at $19,522,000 after purchasing an additional 42,408 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

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.