Ingevity Co. (NYSE:NGVT) Given Average Rating of “Moderate Buy” by Analysts

Shares of Ingevity Co. (NYSE:NGVT) have received a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $52.17.

Separately, BMO Capital Markets increased their price target on Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, October 31st.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $41.61 on Thursday. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -2.68 and a beta of 1.62. The business has a 50-day simple moving average of $42.56 and a two-hundred day simple moving average of $41.45. Ingevity has a fifty-two week low of $30.90 and a fifty-two week high of $56.29.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The firm had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same period in the previous year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. On average, analysts expect that Ingevity will post 2.55 earnings per share for the current year.

Institutional Trading of Ingevity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its stake in shares of Ingevity by 2.4% in the 3rd quarter. Amalgamated Bank now owns 10,667 shares of the company’s stock worth $416,000 after purchasing an additional 246 shares in the last quarter. First Horizon Advisors Inc. increased its position in Ingevity by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after buying an additional 271 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ingevity by 3.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock worth $326,000 after buying an additional 279 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Ingevity by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock valued at $743,000 after buying an additional 300 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Ingevity by 1.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,739 shares of the company’s stock valued at $1,004,000 after buying an additional 313 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

About Ingevity

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.