Ingevity Corp (NGVT) Receives New Coverage from Analysts at Aegis
Other equities analysts also recently issued research reports about the stock. SunTrust Banks Inc. reiterated a buy rating on shares of Ingevity Corp in a report on Saturday, August 6th. Zacks Investment Research downgraded shares of Ingevity Corp from a hold rating to a sell rating in a report on Thursday, November 3rd. Jefferies Group started coverage on shares of Ingevity Corp in a research note on Friday, September 23rd. They issued a buy rating and a $57.00 price objective on the stock. Buckingham Research started coverage on shares of Ingevity Corp in a research note on Friday, September 23rd. They issued a neutral rating on the stock. Finally, Oppenheimer Holdings Inc. reissued an outperform rating and issued a $50.00 price objective (up from $44.00) on shares of Ingevity Corp in a research note on Wednesday, September 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $48.60.
Shares of Ingevity Corp (NASDAQ:NGVT) traded up 0.66% on Tuesday, hitting $52.07. 24,870 shares of the company traded hands. Ingevity Corp has a 12 month low of $24.71 and a 12 month high of $52.94. The company has a market capitalization of $2.19 billion and a PE ratio of 67.54. The stock’s 50-day moving average price is $44.64 and its 200-day moving average price is $40.28.
Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The company earned $252 million during the quarter, compared to analysts’ expectations of $247.60 million. The company’s revenue was down 1.8% on a year-over-year basis. On average, equities analysts predict that Ingevity Corp will post $1.97 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of NGVT. Teacher Retirement System of Texas purchased a new stake in Ingevity Corp during the second quarter worth about $202,000. Vanguard Group Inc. bought a new position in Ingevity Corp during the second quarter worth about $118,442,000. Ameriprise Financial Inc. bought a new position in Ingevity Corp during the second quarter worth about $7,333,000. PineBridge Investments L.P. bought a new position in Ingevity Corp during the second quarter worth about $181,000. Finally, Brown Advisory Inc. bought a new position in Ingevity Corp during the second quarter worth about $436,000.
Ingevity Corp Company Profile
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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