Ingevity (NYSE:NGVT) Hits New 1-Year High – What’s Next?

Ingevity Corporation (NYSE:NGVT) shares hit a new 52-week high on Monday . The stock traded as high as $64.70 and last traded at $65.0050, with a volume of 20893 shares trading hands. The stock had previously closed at $64.44.

Wall Street Analyst Weigh In

NGVT has been the topic of several analyst reports. BMO Capital Markets raised their price objective on Ingevity from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Wells Fargo & Company increased their target price on Ingevity from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, December 19th. Zacks Research upgraded Ingevity to a “hold” rating in a report on Tuesday, December 16th. Wall Street Zen upgraded Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ingevity presently has an average rating of “Hold” and a consensus price target of $65.00.

Ingevity Trading Up 1.7%

The business has a 50 day simple moving average of $55.13 and a two-hundred day simple moving average of $53.39. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -36.02 and a beta of 1.36. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 8.39.

Ingevity (NYSE:NGVT) last released its earnings results on Friday, March 24th. The company reported $0.78 EPS for the quarter. Ingevity had a positive return on equity of 103.69% and a negative net margin of 5.14%.The company had revenue of $336.00 million during the quarter. As a group, equities analysts anticipate that Ingevity Corporation will post 4.45 EPS for the current year.

Institutional Investors Weigh In On Ingevity

Several hedge funds and other institutional investors have recently modified their holdings of NGVT. CWA Asset Management Group LLC acquired a new stake in shares of Ingevity in the 4th quarter valued at about $1,305,000. GAMMA Investing LLC increased its holdings in Ingevity by 39.6% in the fourth quarter. GAMMA Investing LLC now owns 1,524 shares of the company’s stock valued at $90,000 after buying an additional 432 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Ingevity by 66.8% during the third quarter. JPMorgan Chase & Co. now owns 126,080 shares of the company’s stock valued at $6,958,000 after buying an additional 50,498 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Ingevity during the third quarter valued at approximately $62,000. Finally, CIBC Bancorp USA Inc. bought a new position in Ingevity during the 3rd quarter worth approximately $215,000. 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.