Ingevity (NYSE:NGVT) Sets New 12-Month High – Here’s Why

Ingevity Corporation (NYSE:NGVT)’s stock price reached a new 52-week high on Friday . The company traded as high as $77.62 and last traded at $76.46, with a volume of 68391 shares. The stock had previously closed at $75.26.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research report on Tuesday. Wells Fargo & Company raised their price target on shares of Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Jefferies Financial Group reissued a “buy” rating and issued a $82.00 price target on shares of Ingevity in a research report on Thursday, February 26th. Wall Street Zen cut shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $83.00 price target on shares of Ingevity in a research report on Monday, March 2nd. Two 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $80.00.

Ingevity Price Performance

The stock’s fifty day moving average price is $70.87 and its two-hundred day moving average price is $63.04. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -16.38 and a beta of 1.27. The company has a current ratio of 1.33, a quick ratio of 0.79 and a debt-to-equity ratio of 39.10.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.16). Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The company had revenue of $255.10 million for the quarter, compared to analyst estimates of $257.27 million. During the same quarter in the prior year, the business earned $0.95 earnings per share. Ingevity’s revenue was down 3.2% compared to the same quarter last year. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Equities research analysts expect that Ingevity Corporation will post 5.05 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new position in Ingevity in the fourth quarter valued at $27,000. Oakworth Capital Inc. acquired a new position in Ingevity in the third quarter valued at $28,000. Meeder Asset Management Inc. acquired a new position in Ingevity in the fourth quarter valued at $33,000. Kestra Advisory Services LLC acquired a new position in Ingevity in the fourth quarter valued at $47,000. Finally, Geneos Wealth Management Inc. increased its stake in Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after purchasing an additional 387 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.