Ingevity (NYSE:NGVT) Sets New 12-Month High – Should You Buy?

Ingevity Corporation (NYSE:NGVT)’s share price reached a new 52-week high on Wednesday . The company traded as high as $79.22 and last traded at $78.80, with a volume of 14174 shares traded. The stock had previously closed at $77.10.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NGVT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research report on Tuesday, April 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $82.00 price objective on shares of Ingevity in a research report on Thursday, February 26th. Wells Fargo & Company upped their price objective on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Wall Street Zen downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $83.00 target price on shares of Ingevity in a research note on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $80.00.

Ingevity Stock Up 1.1%

The company has a debt-to-equity ratio of 39.10, a current ratio of 1.33 and a quick ratio of 0.79. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -16.77 and a beta of 1.24. The firm’s 50 day simple moving average is $71.00 and its 200-day simple moving average is $63.85.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.16). Ingevity had a negative net margin of 13.51% and a positive return on equity of 126.25%. The company had revenue of $255.10 million during the quarter, compared to analyst estimates of $257.27 million. During the same quarter in the prior year, the company earned $0.95 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. As a group, sell-side analysts anticipate that Ingevity Corporation will post 5.05 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new stake in shares of Ingevity in the 4th quarter worth about $27,000. Oakworth Capital Inc. bought a new stake in shares of Ingevity during the 3rd quarter valued at about $28,000. Meeder Asset Management Inc. bought a new stake in shares of Ingevity during the 4th quarter valued at about $33,000. Geneos Wealth Management Inc. grew its position in shares of Ingevity by 85.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after buying an additional 387 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Ingevity during the 2nd quarter valued at about $46,000. Institutional investors 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.