Ingevity (NYSE:NGVT) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Ingevity (NYSE:NGVT) from a buy rating to a hold rating in a research report report published on Saturday morning.

NGVT has been the topic of a number of other research reports. Wells Fargo & Company raised their price target on shares of Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Zacks Research upgraded shares of Ingevity to a “hold” rating in a report on Tuesday, December 16th. Jefferies Financial Group reissued a “buy” rating and set a $82.00 target price on shares of Ingevity in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a report on Thursday, January 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Ingevity in a research report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $80.00.

Ingevity Stock Up 0.1%

Shares of Ingevity stock opened at $71.15 on Friday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -15.30 and a beta of 1.27. The stock has a 50-day simple moving average of $69.73 and a 200-day simple moving average of $61.06. Ingevity has a 52-week low of $28.49 and a 52-week high of $77.46. The company has a debt-to-equity ratio of 39.10, a current ratio of 1.33 and a quick ratio of 0.79.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). The firm had revenue of $255.10 million during the quarter, compared to analyst estimates of $257.27 million. Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. On average, equities research analysts expect that Ingevity will post 4.45 earnings per share for the current fiscal year.

Institutional Trading of Ingevity

Large investors have recently modified their holdings of the company. Allianz Asset Management GmbH acquired a new position in Ingevity during the 3rd quarter worth $1,670,000. CWA Asset Management Group LLC bought a new stake in Ingevity during the fourth quarter valued at about $1,305,000. Squarepoint Ops LLC acquired a new stake in shares of Ingevity in the second quarter valued at about $1,279,000. Harvey Partners LLC grew its position in shares of Ingevity by 5.1% in the third quarter. Harvey Partners LLC now owns 601,000 shares of the company’s stock valued at $33,169,000 after purchasing an additional 28,953 shares during the last quarter. Finally, Alpha Wave Global LP bought a new position in shares of Ingevity in the third quarter worth about $8,395,000. 91.59% of the stock is owned by institutional investors.

Ingevity Company Profile

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.