Ingevity (NYSE:NGVT) Releases Quarterly Earnings Results, Beats Expectations By $0.31 EPS

Ingevity (NYSE:NGVT) issued its quarterly earnings data on Wednesday. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.84 by $0.31, Zacks reports. The firm had revenue of $258.00 million during the quarter, compared to the consensus estimate of $254.73 million. Ingevity had a positive return on equity of 176.88% and a negative net margin of 10.55%.The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. Ingevity updated its FY 2026 guidance to 4.700-5.200 EPS.

Ingevity Stock Performance

NYSE NGVT traded up $0.60 on Friday, hitting $74.67. 142,963 shares of the stock traded hands, compared to its average volume of 311,896. The business’s fifty day moving average is $71.20 and its two-hundred day moving average is $64.15. Ingevity has a 12 month low of $39.74 and a 12 month high of $79.29. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -21.03 and a beta of 1.24. The company has a debt-to-equity ratio of 39.10, a quick ratio of 0.79 and a current ratio of 1.33.

Analysts Set New Price Targets

Several analysts have recently commented on NGVT shares. Wells Fargo & Company increased their price objective on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Wall Street Zen downgraded Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. BMO Capital Markets reissued an “outperform” rating and issued a $83.00 price objective on shares of Ingevity in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a report on Tuesday, April 21st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $82.00 target price on shares of Ingevity in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.00.

Hedge Funds Weigh In On Ingevity

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Ingevity during the fourth quarter valued at $27,000. Meeder Asset Management Inc. bought a new position in Ingevity during the fourth quarter valued at $33,000. Geneos Wealth Management Inc. grew its holdings in Ingevity by 85.8% during the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after purchasing an additional 387 shares during the period. Headlands Technologies LLC bought a new position in Ingevity during the second quarter valued at $46,000. Finally, Kestra Advisory Services LLC bought a new position in Ingevity during the fourth quarter valued at $47,000. 91.59% of the stock is owned by institutional investors.

About Ingevity

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.