Ingevity (NYSE:NGVT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Ingevity (NYSE:NGVT) from a hold rating to a buy rating in a research report released on Friday morning.

Separately, BMO Capital Markets upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Ingevity presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

Ingevity Trading Down 9.5 %

Shares of NYSE NGVT opened at $31.37 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. Ingevity has a 12 month low of $30.13 and a 12 month high of $56.30. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -2.65 and a beta of 1.52. The business has a fifty day simple moving average of $44.11 and a 200-day simple moving average of $42.51.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The company had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. Sell-side analysts predict that Ingevity will post 4.45 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Ingevity by 9.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 607,628 shares of the company’s stock valued at $23,697,000 after buying an additional 50,692 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Ingevity by 26.1% during the third quarter. BNP Paribas Financial Markets now owns 21,528 shares of the company’s stock worth $840,000 after acquiring an additional 4,459 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Ingevity during the third quarter valued at $288,000. State Street Corp grew its stake in Ingevity by 14.7% in the third quarter. State Street Corp now owns 1,546,957 shares of the company’s stock valued at $60,331,000 after purchasing an additional 198,300 shares in the last quarter. Finally, Vision One Management Partners LP acquired a new position in Ingevity in the 3rd quarter worth about $4,388,000. 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.