Ingevity Co. (NYSE:NGVT) Receives $52.17 Consensus Price Target from Analysts

Ingevity Co. (NYSE:NGVT) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $52.17.

Separately, BMO Capital Markets raised their target price on shares of Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st.

Ingevity Stock Up 1.3 %

Shares of NGVT opened at $47.07 on Monday. The stock has a 50 day moving average price of $44.09 and a 200 day moving average price of $40.74. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -3.03 and a beta of 1.65. Ingevity has a one year low of $30.90 and a one year high of $56.29.

Ingevity (NYSE:NGVT) last released its earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. The business had revenue of $376.90 million during the quarter, compared to analyst estimates of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Equities research analysts forecast that Ingevity will post 2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ingevity

Hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in Ingevity during the second quarter worth $351,000. Choreo LLC purchased a new position in shares of Ingevity in the second quarter valued at approximately $474,000. Headlands Technologies LLC purchased a new stake in Ingevity during the 2nd quarter worth approximately $46,000. American Century Companies Inc. lifted its holdings in Ingevity by 7.6% during the 2nd quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock worth $33,464,000 after buying an additional 53,839 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in Ingevity in the 2nd quarter valued at approximately $916,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.