Ingevity (NYSE:NGVT) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Ingevity (NYSE:NGVT) from a strong-buy rating to a buy rating in a report released on Monday.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company increased their target price on shares of Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Jefferies Financial Group restated a “buy” rating and issued a $82.00 price target on shares of Ingevity in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research note on Thursday, January 22nd. Zacks Research raised Ingevity to a “hold” rating in a report on Tuesday, December 16th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $83.00 target price on shares of Ingevity in a report on Monday, March 2nd. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Ingevity has a consensus rating of “Hold” and an average price target of $80.00.

Ingevity Price Performance

Shares of NYSE NGVT opened at $64.17 on Monday. The company has a debt-to-equity ratio of 39.10, a quick ratio of 0.79 and a current ratio of 1.33. Ingevity has a one year low of $28.49 and a one year high of $77.46. The firm has a market capitalization of $2.26 billion, a P/E ratio of -13.80 and a beta of 1.31. The company’s fifty day moving average is $68.48 and its two-hundred day moving average is $59.84.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). Ingevity had a negative net margin of 13.51% and a positive return on equity of 126.25%. The company had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $257.27 million. During the same quarter in the prior year, the business earned $0.95 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Analysts forecast that Ingevity will post 4.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Ingevity

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in Ingevity by 269.9% during the 4th quarter. Principal Financial Group Inc. now owns 652,237 shares of the company’s stock valued at $38,599,000 after buying an additional 475,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Ingevity by 311.8% in 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 worth $23,769,000 after acquiring an additional 454,579 shares during the last quarter. Simcoe Capital Management LLC lifted its position in shares of Ingevity by 188.8% in the second quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock valued at $26,928,000 after acquiring an additional 408,508 shares in the last quarter. Boston Partners lifted its position in shares of Ingevity by 141.6% in the fourth quarter. Boston Partners now owns 620,360 shares of the company’s stock valued at $36,719,000 after acquiring an additional 363,584 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Ingevity by 137.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 424,038 shares of the company’s stock valued at $25,095,000 after acquiring an additional 245,620 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

About Ingevity

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.