Ingevity (NYSE:NGVT) Price Target Raised to $60.00

Ingevity (NYSE:NGVT) had its price target boosted by Wells Fargo & Company from $55.00 to $60.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently commented on the company. Wall Street Zen cut Ingevity from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. BMO Capital Markets increased their target price on Ingevity from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Ingevity to a “hold” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.00.

Ingevity Trading Down 1.6%

NYSE:NGVT opened at $58.62 on Friday. Ingevity has a 12 month low of $28.49 and a 12 month high of $61.77. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 8.39. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -32.21 and a beta of 1.40. The firm has a fifty day simple moving average of $53.47 and a two-hundred day simple moving average of $51.45.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Friday, March 24th. The company reported $0.78 earnings per share (EPS) for the quarter. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. The company had revenue of $336.00 million for the quarter. Analysts expect that Ingevity will post 4.45 EPS for the current fiscal year.

Institutional Trading of Ingevity

Institutional investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Ingevity by 311.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock valued at $23,769,000 after purchasing an additional 454,579 shares in the last quarter. Simcoe Capital Management LLC boosted its position in Ingevity by 188.8% in the second quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock worth $26,928,000 after purchasing an additional 408,508 shares during the last quarter. Boston Partners bought a new position in Ingevity in the 3rd quarter valued at $14,171,000. American Century Companies Inc. grew its stake in Ingevity by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 1,707,273 shares of the company’s stock valued at $73,566,000 after purchasing an additional 230,525 shares during the period. Finally, Harvey Partners LLC increased its position in shares of Ingevity by 59.6% during the 2nd quarter. Harvey Partners LLC now owns 572,047 shares of the company’s stock valued at $24,650,000 after purchasing an additional 213,547 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Ingevity Company Profile

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.