Ingevity (NYSE:NGVT) Price Target Increased to $55.00 by Analysts at BMO Capital Markets

Ingevity (NYSE:NGVT) had its price objective upped by BMO Capital Markets from $50.00 to $55.00 in a report published on Wednesday morning, Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Loop Capital boosted their price target on shares of Ingevity from $49.00 to $56.00 and gave the company a hold rating in a report on Tuesday. Oppenheimer increased their price objective on Ingevity from $50.00 to $58.00 and gave the stock an outperform rating in a report on Thursday, May 2nd. Jefferies Financial Group upgraded Ingevity from a hold rating to a buy rating and boosted their price target for the stock from $52.00 to $62.00 in a research report on Monday, April 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Ingevity from $43.00 to $50.00 and gave the stock an equal weight rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $55.00.

Ingevity Stock Up 0.8 %

Shares of NGVT stock traded up $0.41 during mid-day trading on Wednesday, reaching $54.41. 125,982 shares of the company were exchanged, compared to its average volume of 229,374. Ingevity has a fifty-two week low of $36.66 and a fifty-two week high of $66.18. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.98 and a current ratio of 1.90. The company has a market capitalization of $1.98 billion, a P/E ratio of -17.41 and a beta of 1.79. The business’s 50 day simple moving average is $47.42 and its 200 day simple moving average is $44.45.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The firm had revenue of $340.10 million during the quarter, compared to the consensus estimate of $319.15 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. The firm’s revenue was down 13.4% on a year-over-year basis. Research analysts predict that Ingevity will post 3.78 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

Large investors have recently modified their holdings of the stock. New York State Common Retirement Fund grew its stake in Ingevity by 3.2% during the 4th quarter. New York State Common Retirement Fund now owns 184,783 shares of the company’s stock valued at $8,725,000 after acquiring an additional 5,771 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Ingevity by 57.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock valued at $87,572,000 after buying an additional 677,718 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Ingevity during the 4th quarter valued at $2,530,000. Wedge Capital Management L L P NC raised its holdings in shares of Ingevity by 28.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 137,106 shares of the company’s stock worth $6,474,000 after acquiring an additional 30,201 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its stake in Ingevity by 11.5% in the third quarter. Rice Hall James & Associates LLC now owns 410,033 shares of the company’s stock valued at $19,522,000 after purchasing an additional 42,408 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Ingevity Company Profile

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.