Ingevity (NYSE:NGVT) Price Target Raised to $47.00

Ingevity (NYSE:NGVTGet Free Report) had its price objective upped by equities researchers at BMO Capital Markets from $40.00 to $47.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 12.79% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Oppenheimer dropped their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company lowered their target price on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Finally, CJS Securities raised Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

Get Our Latest Analysis on Ingevity

Ingevity Trading Up 0.0 %

NYSE:NGVT opened at $41.67 on Thursday. The firm has a market capitalization of $1.51 billion, a P/E ratio of -3.39 and a beta of 1.62. The business has a 50 day simple moving average of $36.72 and a 200 day simple moving average of $42.42. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92 and a quick ratio of 1.07. Ingevity has a 12-month low of $30.90 and a 12-month high of $56.29.

Ingevity (NYSE:NGVTGet Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.50. The company had revenue of $376.90 million during the quarter, compared to the consensus estimate of $376.95 million. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. Equities research analysts predict that Ingevity will post 2.2 EPS for the current year.

Hedge Funds Weigh In On Ingevity

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Ingevity by 2.0% during the first quarter. Vanguard Group Inc. now owns 3,818,520 shares of the company’s stock worth $182,143,000 after buying an additional 75,198 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Ingevity by 2.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,359,556 shares of the company’s stock valued at $59,427,000 after acquiring an additional 35,620 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Ingevity by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,028,685 shares of the company’s stock worth $44,964,000 after acquiring an additional 13,771 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ingevity by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 845,912 shares of the company’s stock worth $36,977,000 after acquiring an additional 88,026 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Ingevity by 7.6% in the 2nd quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock worth $33,464,000 after acquiring an additional 53,839 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

About Ingevity

(Get Free Report)

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.

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