Ingevity (NYSE:NGVT) PT Raised to $55.00 at BMO Capital Markets

Ingevity (NYSE:NGVT) had its target price boosted by BMO Capital Markets from $50.00 to $55.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 1.08% from the company’s current price.

A number of other equities research analysts have also recently commented on NGVT. Oppenheimer raised their price objective on Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Loop Capital lifted their price target on Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday. Wells Fargo & Company increased their price target on Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Finally, Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and upped their target price for the stock from $52.00 to $62.00 in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Ingevity presently has an average rating of “Hold” and an average price target of $55.00.

Ingevity Stock Up 0.8 %

Shares of NGVT opened at $54.41 on Wednesday. The company has a market capitalization of $1.98 billion, a PE ratio of -17.50 and a beta of 1.79. The stock’s 50-day moving average price is $47.59 and its two-hundred day moving average price is $44.51. The company has a current ratio of 1.90, a quick ratio of 0.98 and a debt-to-equity ratio of 2.48. Ingevity has a 12 month low of $36.66 and a 12 month high of $66.18.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.15. The firm had revenue of $340.10 million during the quarter, compared to analyst estimates of $319.15 million. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The business’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. On average, analysts anticipate that Ingevity will post 3.78 EPS for the current year.

Hedge Funds Weigh In On Ingevity

Institutional investors have recently bought and sold shares of the company. TFO Wealth Partners LLC raised its stake in shares of Ingevity by 40,750.0% during the 4th quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after purchasing an additional 815 shares during the period. GAMMA Investing LLC purchased a new position in Ingevity during the 4th quarter valued at about $41,000. Principal Securities Inc. bought a new stake in shares of Ingevity during the fourth quarter valued at about $67,000. Quadrant Capital Group LLC lifted its holdings in shares of Ingevity by 207.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $98,000 after buying an additional 1,401 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Ingevity in the fourth quarter valued at approximately $208,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.