Ingevity (NYSE:NGVT) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Ingevity (NYSE:NGVT) from a buy rating to a hold rating in a research report report published on Monday.

Separately, BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

Ingevity Stock Performance

NGVT opened at $43.27 on Monday. Ingevity has a 52-week low of $30.90 and a 52-week high of $56.30. The firm has a market capitalization of $1.57 billion, a PE ratio of -3.65 and a beta of 1.53. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The business’s 50-day simple moving average is $45.44 and its 200 day simple moving average is $42.45.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.66. The firm had revenue of $298.80 million during the quarter, compared to analysts’ expectations 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, sell-side analysts expect that Ingevity will post 4.45 earnings per share for the current fiscal year.

Institutional Trading of Ingevity

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in Ingevity by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock valued at $91,279,000 after acquiring an additional 115,581 shares during the period. State Street Corp increased its stake in shares of Ingevity by 14.7% during the third quarter. State Street Corp now owns 1,546,957 shares of the company’s stock worth $60,331,000 after purchasing an additional 198,300 shares during the period. American Century Companies Inc. lifted its holdings in Ingevity by 37.7% during the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock worth $59,388,000 after purchasing an additional 398,800 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in Ingevity by 8.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,287,281 shares of the company’s stock valued at $52,457,000 after purchasing an additional 101,866 shares during the period. Finally, Royce & Associates LP grew its holdings in Ingevity by 22.4% in the 4th quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock valued at $46,561,000 after buying an additional 208,921 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

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.