Ingevity (NYSE:NGVT) Stock Rating Upgraded by Zacks Research

Ingevity (NYSE:NGVT) was upgraded by Zacks Research to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. BMO Capital Markets raised their price target on Ingevity from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Wells Fargo & Company raised their target price on shares of Ingevity from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 12th. Wall Street Zen lowered shares of Ingevity from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $62.50.

Ingevity Price Performance

Shares of Ingevity stock opened at $58.31 on Tuesday. The company has a debt-to-equity ratio of 8.39, a quick ratio of 0.80 and a current ratio of 1.27. Ingevity has a 52-week low of $28.49 and a 52-week high of $61.77. The company has a fifty day moving average of $53.24 and a 200-day moving average of $51.13. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -32.04 and a beta of 1.40.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Friday, March 24th. The company reported $0.78 earnings per share for the quarter. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. The business had revenue of $336.00 million during the quarter. Equities research analysts expect that Ingevity will post 4.45 EPS for the current year.

Institutional Investors Weigh In On Ingevity

Large investors have recently modified their holdings of the stock. Oakworth Capital Inc. bought a new position in Ingevity in the third quarter worth about $28,000. Geneos Wealth Management Inc. raised its position in shares of Ingevity by 85.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after acquiring an additional 387 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Ingevity in the 2nd quarter worth approximately $46,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Ingevity during the second quarter valued at approximately $60,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in Ingevity in the third quarter worth $62,000. Institutional investors own 91.59% of the company’s stock.

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.