Brokerages Set Ingevity Co. (NYSE:NGVT) Target Price at $48.75

Ingevity Co. (NYSE:NGVT) has earned a consensus recommendation of “Hold” from the four analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $48.75.

Separately, Wells Fargo & Company lifted their price target on shares of Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd.

Ingevity Trading Down 0.7 %

Shares of NGVT opened at $44.94 on Friday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.96 and a current ratio of 1.81. Ingevity has a 52-week low of $36.66 and a 52-week high of $73.43. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -204.27 and a beta of 1.85. The business’s fifty day moving average is $46.20 and its 200-day moving average is $43.60.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.34. The company had revenue of $371.70 million for the quarter, compared to the consensus estimate of $336.74 million. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. Equities analysts anticipate that Ingevity will post 3.65 EPS for the current fiscal year.

Institutional Trading of Ingevity

Large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new position in Ingevity during the 4th quarter valued at about $2,530,000. Rice Hall James & Associates LLC lifted its position in Ingevity by 11.5% during the third quarter. Rice Hall James & Associates LLC now owns 410,033 shares of the company’s stock valued at $19,522,000 after purchasing an additional 42,408 shares during the last quarter. First Hawaiian Bank grew its position in Ingevity by 2.5% in the fourth quarter. First Hawaiian Bank now owns 10,160 shares of the company’s stock worth $480,000 after acquiring an additional 250 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Ingevity by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 1,176,836 shares of the company’s stock worth $56,029,000 after purchasing an additional 30,632 shares in the last quarter. Finally, First Eagle Investment Management LLC purchased a new position in shares of Ingevity during the 3rd quarter valued at about $7,463,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Company Profile

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.