Ingevity (NYSE:NGVT) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Ingevity (NYSE:NGVT) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ingevity has a consensus rating of “Hold” and a consensus price target of $80.00.

Ingevity Stock Up 0.3%

Shares of NYSE:NGVT opened at $73.32 on Friday. The firm’s 50 day moving average price is $71.90 and its 200 day moving average price is $71.06. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 49.88 and a beta of 1.16. Ingevity has a fifty-two week low of $40.40 and a fifty-two week high of $79.29. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 22.52.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.33 by $0.41. Ingevity had a net margin of 4.65% and a return on equity of 284.70%. The company had revenue of $314.10 million during the quarter, compared to analysts’ expectations of $312.20 million. Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. As a group, equities research analysts predict that Ingevity will post 5.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Terrance M. Dyer sold 496 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $68.49, for a total value of $33,971.04. Following the completion of the transaction, the senior vice president directly owned 7,202 shares of the company’s stock, valued at $493,264.98. This represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.88% of the stock is currently owned by insiders.

Institutional Trading of Ingevity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGVT. Los Angeles Capital Management LLC boosted its position in shares of Ingevity by 94.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 30,877 shares of the company’s stock valued at $1,827,000 after purchasing an additional 14,975 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Ingevity during the fourth quarter worth approximately $8,083,000. Pacer Advisors Inc. acquired a new position in Ingevity during the fourth quarter worth approximately $9,660,000. Principal Financial Group Inc. lifted its stake in Ingevity by 269.9% in the fourth quarter. Principal Financial Group Inc. now owns 652,237 shares of the company’s stock valued at $38,599,000 after buying an additional 475,907 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Ingevity by 465.9% in the first quarter. Bessemer Group Inc. now owns 314,739 shares of the company’s stock valued at $22,419,000 after buying an additional 259,124 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

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.