Ingevity (NYSE:NGVT) Price Target Raised to $62.00 at BMO Capital Markets

Ingevity (NYSE:NGVT) had its price target boosted by BMO Capital Markets from $61.00 to $62.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Ingevity Price Performance

Shares of NGVT stock opened at $46.85 on Thursday. Ingevity has a fifty-two week low of $30.90 and a fifty-two week high of $56.29. The stock’s 50-day moving average is $43.32 and its two-hundred day moving average is $41.02. 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 (NYSE:NGVT) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.66. The firm had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.40 million. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. As a group, analysts anticipate that Ingevity will post 4.45 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

A number of large investors have recently bought and sold shares of NGVT. Vestcor Inc acquired a new stake in shares of Ingevity in the third quarter worth about $796,000. Geode Capital Management LLC lifted its holdings in Ingevity by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after purchasing an additional 33,973 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Ingevity by 24.9% during the third quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock worth $4,586,000 after purchasing an additional 23,460 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in Ingevity during the fourth quarter valued at approximately $239,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in Ingevity during the fourth quarter valued at approximately $530,000. 91.59% of the stock is currently owned by 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.