Ingevity Co. (NYSE:NGVT) Given Average Rating of “Hold” by Brokerages

Ingevity Co. (NYSE:NGVT) has received an average rating of “Hold” from the four analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $48.75.

Separately, Wells Fargo & Company increased their target price on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd.

Ingevity Stock Performance

NGVT stock opened at $44.49 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 2.19. The firm has a market cap of $1.61 billion, a P/E ratio of -202.23 and a beta of 1.85. Ingevity has a 12-month low of $36.66 and a 12-month high of $72.76. The stock’s 50 day simple moving average is $46.20 and its 200 day simple moving average is $43.57.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.34. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. The business had revenue of $371.70 million for the quarter, compared to analyst estimates of $336.74 million. During the same period in the prior year, the company posted $0.57 EPS. The business’s revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts predict that Ingevity will post 3.65 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NGVT. TFO Wealth Partners LLC increased its holdings in shares of Ingevity by 40,750.0% during the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after purchasing an additional 815 shares during the period. GAMMA Investing LLC acquired a new position in shares of Ingevity during the fourth quarter valued at $41,000. Principal Securities Inc. acquired a new position in shares of Ingevity during the fourth quarter valued at $67,000. Quadrant Capital Group LLC increased its holdings in shares of Ingevity by 207.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $98,000 after purchasing an additional 1,401 shares during the period. Finally, FMR LLC increased its holdings in shares of Ingevity by 15.7% during the third quarter. FMR LLC now owns 2,394 shares of the company’s stock valued at $114,000 after purchasing an additional 324 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

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.