Ingevity Co. (NYSE:NGVT) Receives Average Rating of “Hold” from Analysts

Shares of Ingevity Co. (NYSE:NGVT) have been given a consensus rating of “Hold” by the four research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $48.75.

Separately, Wells Fargo & Company boosted their price target on Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd.

Ingevity Price Performance

Shares of NGVT stock opened at $44.49 on Friday. The stock’s fifty day simple moving average is $46.20 and its 200 day simple moving average is $43.57. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.81 and a quick ratio of 0.96. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -202.23 and a beta of 1.85. Ingevity has a one year low of $36.66 and a one year high of $72.76.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.34. The business had revenue of $371.70 million for the quarter, compared to analyst estimates of $336.74 million. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. Ingevity’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. On average, analysts expect that Ingevity will post 3.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ingevity

Several institutional investors have recently bought and sold shares of the business. Howe & Rusling Inc. raised its position in Ingevity by 3.0% in the 4th quarter. Howe & Rusling Inc. now owns 4,363 shares of the company’s stock valued at $307,000 after purchasing an additional 129 shares during the last quarter. Bank of Montreal Can raised its position in shares of Ingevity by 3.8% during the first quarter. Bank of Montreal Can now owns 5,186 shares of the company’s stock worth $338,000 after acquiring an additional 188 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Ingevity by 3.9% during the second quarter. Hsbc Holdings PLC now owns 5,831 shares of the company’s stock worth $339,000 after acquiring an additional 221 shares during the last quarter. Jennison Associates LLC raised its position in shares of Ingevity by 1.3% during the fourth quarter. Jennison Associates LLC now owns 19,588 shares of the company’s stock worth $925,000 after acquiring an additional 249 shares during the last quarter. Finally, First Hawaiian Bank raised its position in shares of Ingevity by 2.5% during the fourth quarter. First Hawaiian Bank now owns 10,160 shares of the company’s stock worth $480,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

About Ingevity

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.