Loop Capital cut shares of Ingevity (NYSE:NGVT) from a buy rating to a hold rating in a research note released on Friday morning, BenzingaRatingsTable reports. They currently have $96.00 price objective on the stock.

Several other equities research analysts have also recently issued reports on the company. SunTrust Banks decreased their price objective on Ingevity to $120.00 and set a buy rating on the stock in a report on Friday, October 25th. They noted that the move was a valuation call. ValuEngine upgraded Ingevity from a sell rating to a hold rating in a research note on Saturday, October 19th. BMO Capital Markets reduced their target price on Ingevity to $121.00 and set an outperform rating on the stock in a research report on Monday, October 28th. Wells Fargo & Co initiated coverage on Ingevity in a research note on Tuesday, October 15th. They issued an outperform rating and a $100.00 price target on the stock. Finally, Stifel Nicolaus lowered their price target on Ingevity from $109.00 to $99.00 and set a hold rating for the company in a report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $111.89.

Shares of NGVT opened at $88.71 on Friday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.38 and a current ratio of 2.39. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.85 and a beta of 2.08. The company’s 50 day simple moving average is $88.76 and its 200 day simple moving average is $89.15. Ingevity has a 1 year low of $72.59 and a 1 year high of $120.41.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, October 23rd. The company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.04. The firm had revenue of $359.90 million during the quarter, compared to analysts’ expectations of $365.44 million. Ingevity had a net margin of 14.31% and a return on equity of 53.69%. Ingevity’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 EPS. Equities analysts expect that Ingevity will post 4.79 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of NGVT. Advisory Services Network LLC increased its position in shares of Ingevity by 54.3% in the second quarter. Advisory Services Network LLC now owns 355 shares of the company’s stock worth $37,000 after acquiring an additional 125 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new position in Ingevity in the third quarter valued at about $74,000. NumerixS Investment Technologies Inc purchased a new position in Ingevity in the second quarter valued at about $84,000. Valeo Financial Advisors LLC raised its position in Ingevity by 13.4% in the third quarter. Valeo Financial Advisors LLC now owns 1,691 shares of the company’s stock valued at $143,000 after purchasing an additional 200 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Ingevity by 43.2% during the third quarter. SG Americas Securities LLC now owns 2,458 shares of the company’s stock worth $209,000 after purchasing an additional 742 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Ingevity Company Profile

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Analyst Recommendations for Ingevity (NYSE:NGVT)

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