Shares of Ingevity Corp (NYSE:NGVT) have been given an average recommendation of “Buy” by the eleven analysts that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $100.25.
Several equities research analysts have issued reports on the stock. Oppenheimer set a $100.00 price target on shares of Ingevity and gave the company a “buy” rating in a report on Wednesday, October 24th. ValuEngine lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Berenberg Bank lowered shares of Ingevity from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a report on Tuesday, October 2nd. Zacks Investment Research lowered shares of Ingevity from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, Loop Capital set a $98.00 target price on shares of Ingevity and gave the company a “hold” rating in a research note on Thursday, August 16th.
Shares of Ingevity stock opened at $98.53 on Wednesday. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 2.28 and a beta of 1.47. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.26 and a current ratio of 2.34. Ingevity has a 52-week low of $66.57 and a 52-week high of $106.59.
Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.12. The firm had revenue of $311.20 million for the quarter, compared to analyst estimates of $305.50 million. Ingevity had a net margin of 15.53% and a return on equity of 47.45%. Analysts expect that Ingevity will post 3.79 EPS for the current fiscal year.
Several large investors have recently modified their holdings of NGVT. UBS Group AG lifted its position in Ingevity by 30.8% during the 1st quarter. UBS Group AG now owns 13,930 shares of the company’s stock worth $1,027,000 after buying an additional 3,282 shares in the last quarter. Legal & General Group Plc lifted its position in Ingevity by 2.0% during the 1st quarter. Legal & General Group Plc now owns 86,702 shares of the company’s stock valued at $6,341,000 after purchasing an additional 1,708 shares during the period. Principal Financial Group Inc. lifted its position in Ingevity by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 342,889 shares of the company’s stock valued at $25,268,000 after purchasing an additional 6,578 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of Ingevity by 14.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,137 shares of the company’s stock valued at $577,000 after acquiring an additional 900 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its stake in shares of Ingevity by 64.6% in the 2nd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 21,400 shares of the company’s stock valued at $1,228,000 after acquiring an additional 8,400 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.
Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.
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