Ingevity Corp (NGVT) Rating Increased to Buy at BidaskClub
BidaskClub upgraded shares of Ingevity Corp (NASDAQ:NGVT) from a hold rating to a buy rating in a research note published on Saturday.
A number of other analysts have also issued reports on NGVT. Zacks Investment Research lowered Ingevity Corp from a buy rating to a hold rating in a research note on Saturday, July 8th. Jefferies Group LLC set a $68.00 price objective on Ingevity Corp and gave the company a buy rating in a research note on Wednesday, July 19th. KeyCorp reiterated a buy rating and set a $70.00 price objective on shares of Ingevity Corp in a research note on Friday, September 8th. Finally, Loop Capital started coverage on Ingevity Corp in a research note on Thursday, September 28th. They set a buy rating and a $73.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, Ingevity Corp has a consensus rating of Buy and a consensus target price of $72.50.
Shares of Ingevity Corp (NASDAQ:NGVT) opened at $73.36 on Friday. Ingevity Corp has a one year low of $43.78 and a one year high of $76.00.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.11. Ingevity Corp had a return on equity of 66.54% and a net margin of 14.54%. The company had revenue of $264.10 million for the quarter, compared to analyst estimates of $260.88 million. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in Ingevity Corp by 0.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,716 shares of the company’s stock worth $270,000 after acquiring an additional 21 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of Ingevity Corp by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,548 shares of the company’s stock worth $318,000 after purchasing an additional 57 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Ingevity Corp by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 22,000 shares of the company’s stock worth $1,263,000 after purchasing an additional 100 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Ingevity Corp by 5.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,072 shares of the company’s stock worth $234,000 after purchasing an additional 210 shares in the last quarter. Finally, Texas Permanent School Fund boosted its holdings in shares of Ingevity Corp by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 30,738 shares of the company’s stock worth $1,764,000 after purchasing an additional 256 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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