Ingevity Corp (NASDAQ:NGVT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Ingevity Corporation provides specialty chemicals, carbon materials and technologies. The Company’s operating segments consists of Performance Materials and Performance Chemicals. Performance Chemicals segment products consists of asphalt paving, adhesives, agrochemical dispersants, printing inks, lubricants, petroleum and other diverse industries. Performance Materials segment engineers, manufactures and sells wood-based chemically activated carbon products. Ingevity Corporation is based in North Charleston, SC. “

Several other equities research analysts also recently commented on the company. Buckingham Research began coverage on Ingevity Corp in a report on Friday, September 23rd. They issued a “neutral” rating for the company. Jefferies Group began coverage on Ingevity Corp in a report on Friday, September 23rd. They issued a “buy” rating and a $57.00 price objective for the company. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $50.00 price objective (up previously from $44.00) on shares of Ingevity Corp in a report on Wednesday, September 7th. SunTrust Banks Inc. restated a “buy” rating on shares of Ingevity Corp in a research note on Saturday, August 6th. Finally, KeyCorp started coverage on Ingevity Corp in a research note on Thursday, July 7th. They issued an “overweight” rating and a $43.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Ingevity Corp has a consensus rating of “Buy” and an average target price of $48.60.

Shares of Ingevity Corp (NASDAQ:NGVT) opened at 43.41 on Wednesday. Ingevity Corp has a 52 week low of $23.00 and a 52 week high of $48.30. The firm has a market cap of $1.83 billion and a P/E ratio of 29.02. The stock has a 50 day moving average of $44.70 and a 200 day moving average of $38.71.

Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.51 by $0.15. Analysts anticipate that Ingevity Corp will post $1.94 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. FMR LLC acquired a new stake in Ingevity Corp during the second quarter worth $136,213,000. Vanguard Group Inc. purchased a new position in Ingevity Corp during the second quarter valued at $118,442,000. BlackRock Fund Advisors purchased a new position in Ingevity Corp during the second quarter valued at $93,133,000. Capital World Investors purchased a new position in Ingevity Corp during the second quarter valued at $55,943,000. Finally, Ruffer LLP purchased a new position in Ingevity Corp during the second quarter valued at $41,128,000.

About Ingevity Corp

Ingevity Corporation is a manufacturer of specialty chemicals, carbon materials and technologies. The Company operates through two segments: Performance Materials and Performance Chemicals. The Company’s specialty chemicals products serve as inputs used in a range of high performance applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants and printing inks.

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