Ingevity Corp (NGVT) Receives New Coverage from Analysts at Loop Capital
Loop Capital began coverage on shares of Ingevity Corp (NASDAQ:NGVT) in a research report report published on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $73.00 price objective on the stock.
Other equities analysts have also issued research reports about the stock. KeyCorp reissued a buy rating and issued a $70.00 price target on shares of Ingevity Corp in a report on Friday, September 8th. Zacks Investment Research raised Ingevity Corp from a sell rating to a hold rating in a research note on Tuesday, August 8th. BidaskClub upgraded Ingevity Corp from a strong sell rating to a sell rating in a report on Friday, September 22nd. Jefferies Group LLC set a $68.00 target price on Ingevity Corp and gave the stock a buy rating in a report on Wednesday, July 5th. Finally, Aegis reissued a buy rating and issued a $67.00 target price on shares of Ingevity Corp in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Ingevity Corp presently has a consensus rating of Buy and a consensus price target of $67.50.
Ingevity Corp (NGVT) opened at 62.47 on Thursday. The stock’s 50 day moving average price is $59.86 and its 200-day moving average price is $59.86. The stock has a market cap of $2.63 billion and a P/E ratio of 49.90. Ingevity Corp has a one year low of $40.24 and a one year high of $63.65.
Ingevity Corp (NASDAQ:NGVT) last issued its earnings results on Wednesday, August 2nd. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.08. The firm had revenue of $260.30 million during the quarter, compared to the consensus estimate of $259.56 million. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The business’s revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that Ingevity Corp will post $2.40 earnings per share for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in Ingevity Corp by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,716 shares of the company’s stock worth $270,000 after purchasing an additional 21 shares in the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of Ingevity Corp by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,548 shares of the company’s stock valued at $318,000 after purchasing an additional 57 shares in the last quarter. Virginia Retirement Systems ET AL lifted its holdings in shares of Ingevity Corp by 2.3% in the first quarter. Virginia Retirement Systems ET AL now owns 4,466 shares of the company’s stock valued at $272,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Ingevity Corp by 0.5% in the second quarter. Arizona State Retirement System now owns 22,000 shares of the company’s stock valued at $1,263,000 after purchasing an additional 100 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Ingevity Corp by 1.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,620 shares of the company’s stock valued at $585,000 after purchasing an additional 160 shares in the last quarter.
Ingevity Corp Company Profile
Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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