Ingevity Corp (NYSE:NGVT) Receives $106.05 Consensus PT from Brokerages

Ingevity Corp (NYSE:NGVT) has been given an average rating of “Hold” by the eight research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $106.46.

Several research firms have weighed in on NGVT. BMO Capital Markets began coverage on shares of Ingevity in a research report on Thursday, July 18th. They issued an “outperform” rating and a $101.29 price objective for the company. Berenberg Bank upgraded shares of Ingevity from a “hold” rating to a “buy” rating and lowered their price objective for the company from $120.00 to $110.00 in a research report on Tuesday, May 28th. ValuEngine cut shares of Ingevity from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Zacks Investment Research upgraded shares of Ingevity from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Loop Capital upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday.

Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Ingevity by 1.0% during the 2nd quarter. BlackRock Inc. now owns 4,799,123 shares of the company’s stock worth $504,725,000 after buying an additional 48,589 shares during the period. Invesco Ltd. grew its position in shares of Ingevity by 96.8% during the 2nd quarter. Invesco Ltd. now owns 1,560,605 shares of the company’s stock worth $164,129,000 after buying an additional 767,623 shares during the period. Wells Fargo & Company MN grew its position in shares of Ingevity by 2.8% during the 2nd quarter. Wells Fargo & Company MN now owns 1,073,494 shares of the company’s stock worth $112,899,000 after buying an additional 28,942 shares during the period. Victory Capital Management Inc. grew its position in shares of Ingevity by 24.1% during the 2nd quarter. Victory Capital Management Inc. now owns 738,216 shares of the company’s stock worth $77,638,000 after buying an additional 143,427 shares during the period. Finally, Chilton Investment Co. LLC grew its position in shares of Ingevity by 9.2% during the 2nd quarter. Chilton Investment Co. LLC now owns 737,763 shares of the company’s stock worth $77,591,000 after buying an additional 61,968 shares during the period. Institutional investors own 90.06% of the company’s stock.

NGVT opened at $78.83 on Tuesday. The company has a current ratio of 2.28, a quick ratio of 1.25 and a debt-to-equity ratio of 3.51. The stock has a market capitalization of $3.13 billion, a PE ratio of 19.09, a PEG ratio of 1.52 and a beta of 2.09. Ingevity has a 1-year low of $72.59 and a 1-year high of $120.41. The firm has a 50-day moving average price of $85.83 and a two-hundred day moving average price of $98.95.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.01. The firm had revenue of $352.80 million during the quarter, compared to analysts’ expectations of $362.06 million. Ingevity had a net margin of 14.03% and a return on equity of 54.67%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 EPS. On average, research analysts predict that Ingevity will post 4.91 EPS for the current year.

About Ingevity

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Analyst Recommendations for Ingevity (NYSE:NGVT)

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