Ingevity (NYSE:NGVT) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Ingevity Corporation (NYSE:NGVT) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $69.54 and traded as high as $72.74. Ingevity shares last traded at $71.3510, with a volume of 357,713 shares changing hands.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $82.00 target price on shares of Ingevity in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 9th. Wells Fargo & Company lifted their price objective on Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Finally, Zacks Research upgraded Ingevity to a “hold” rating in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.00.

Ingevity Stock Down 1.6%

The company has a debt-to-equity ratio of 39.10, a quick ratio of 0.79 and a current ratio of 1.33. The company has a market capitalization of $2.51 billion, a PE ratio of 16.93 and a beta of 1.27. The firm’s 50-day simple moving average is $69.70 and its 200 day simple moving average is $60.94.

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. As a group, equities research analysts forecast that Ingevity Corporation will post 4.45 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

Several institutional investors have recently modified their holdings of NGVT. Segall Bryant & Hamill LLC raised its holdings in Ingevity by 1.2% during the third quarter. Segall Bryant & Hamill LLC now owns 1,298,661 shares of the company’s stock worth $71,673,000 after purchasing an additional 15,451 shares during the last quarter. Millennium Management LLC grew its holdings in Ingevity by 1.3% in the third quarter. Millennium Management LLC now owns 1,189,524 shares of the company’s stock valued at $65,650,000 after purchasing an additional 15,562 shares during the last quarter. Royce & Associates LP increased its position in shares of Ingevity by 7.7% in the fourth quarter. Royce & Associates LP now owns 1,111,158 shares of the company’s stock valued at $65,758,000 after buying an additional 79,059 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Ingevity by 15.4% in the fourth quarter. Brown Advisory Inc. now owns 1,040,944 shares of the company’s stock valued at $61,603,000 after buying an additional 138,859 shares in the last quarter. Finally, Simcoe Capital Management LLC raised its stake in shares of Ingevity by 9.4% during the 4th quarter. Simcoe Capital Management LLC now owns 1,020,945 shares of the company’s stock worth $60,420,000 after buying an additional 87,490 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.