Ingevity Corp’s (NGVT) Buy Rating Reaffirmed at KeyCorp
Ingevity Corp (NASDAQ:NGVT)‘s stock had its “buy” rating reiterated by stock analysts at KeyCorp in a report issued on Thursday. They presently have a $75.00 target price on the stock, up from their previous target price of $70.00. KeyCorp’s target price suggests a potential upside of 16.30% from the stock’s previous close.
A number of other equities research analysts have also commented on NGVT. Zacks Investment Research upgraded Ingevity Corp from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Wednesday. Loop Capital began coverage on Ingevity Corp in a research report on Thursday, September 28th. They set a “buy” rating and a $73.00 price target on the stock. BidaskClub upgraded Ingevity Corp from a “strong sell” rating to a “sell” rating in a research report on Friday, September 22nd. Jefferies Group LLC set a $68.00 price target on Ingevity Corp and gave the stock a “buy” rating in a research report on Wednesday, July 5th. Finally, Aegis restated a “buy” rating and set a $67.00 price target on shares of Ingevity Corp in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $69.83.
Shares of Ingevity Corp (NASDAQ NGVT) traded down 0.79% during mid-day trading on Thursday, reaching $63.98. The company’s stock had a trading volume of 331,187 shares. The company has a 50 day moving average of $61.37 and a 200-day moving average of $61.37. The firm has a market capitalization of $2.70 billion and a P/E ratio of 51.10. Ingevity Corp has a 12 month low of $40.24 and a 12 month high of $66.01.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.08. The business had revenue of $260.30 million for the quarter, compared to analyst estimates of $259.56 million. Ingevity Corp had a return on equity of 76.78% and a net margin of 13.75%. Ingevity Corp’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts forecast that Ingevity Corp will post $2.41 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in NGVT. Wells Fargo & Company MN boosted its position in Ingevity Corp by 107.1% in the 1st quarter. Wells Fargo & Company MN now owns 72,056 shares of the company’s stock valued at $4,385,000 after buying an additional 37,259 shares during the last quarter. First Trust Advisors LP boosted its position in Ingevity Corp by 10.7% in the 1st quarter. First Trust Advisors LP now owns 37,914 shares of the company’s stock valued at $2,307,000 after buying an additional 3,673 shares during the last quarter. Karp Capital Management Corp bought a new position in Ingevity Corp in the 1st quarter valued at $1,141,000. Virginia Retirement Systems ET AL boosted its position in Ingevity Corp by 2.3% in the 1st quarter. Virginia Retirement Systems ET AL now owns 4,466 shares of the company’s stock valued at $272,000 after buying an additional 100 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its position in Ingevity Corp by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 9,845 shares of the company’s stock valued at $599,000 after buying an additional 642 shares during 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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