Brokerages Set Ingevity Co. (NYSE:NGVT) PT at $87.00

Ingevity Co. (NYSE:NGVT) has earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $87.00.

Several brokerages have commented on NGVT. Wells Fargo & Company upped their target price on shares of Ingevity from $82.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, October 29th. Loop Capital dropped their target price on shares of Ingevity from $92.00 to $81.00 and set a “hold” rating for the company in a research report on Thursday, November 18th. TheStreet cut shares of Ingevity from a “b” rating to a “c” rating in a research report on Wednesday, October 27th. Finally, Zacks Investment Research cut shares of Ingevity from a “hold” rating to a “strong sell” rating and set a $63.00 price objective for the company. in a research report on Monday, December 13th.

Shares of Ingevity stock opened at $73.97 on Wednesday. The firm has a fifty day moving average of $75.00 and a two-hundred day moving average of $77.29. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 21.63 and a beta of 2.13. Ingevity has a 52 week low of $63.43 and a 52 week high of $89.55. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.99 and a current ratio of 2.91.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, October 27th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.54 by $0.08. The company had revenue of $376.80 million during the quarter, compared to analysts’ expectations of $354.29 million. Ingevity had a net margin of 10.11% and a return on equity of 35.46%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.79 EPS. As a group, research analysts forecast that Ingevity will post 5.15 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NGVT. Advisory Services Network LLC bought a new stake in shares of Ingevity in the 2nd quarter valued at $30,000. Panagora Asset Management Inc. increased its holdings in Ingevity by 46.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,562 shares of the company’s stock worth $127,000 after purchasing an additional 498 shares in the last quarter. FORA Capital LLC increased its holdings in Ingevity by 113.1% during the 2nd quarter. FORA Capital LLC now owns 1,824 shares of the company’s stock worth $148,000 after purchasing an additional 968 shares in the last quarter. Kovack Advisors Inc. increased its holdings in Ingevity by 11.5% during the 3rd quarter. Kovack Advisors Inc. now owns 3,035 shares of the company’s stock worth $217,000 after purchasing an additional 314 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in Ingevity during the 3rd quarter worth about $228,000. Institutional investors and hedge funds own 91.94% of the company’s stock.

About Ingevity

Ingevity Corp. engages in the manufacture of specialty chemicals and carbon materials. It operates through the following segments: Performance Chemicals and Performance Materials. The Performance Materials segment consists of automotive technologies and process purifications product families. Automotive technologies produces automotive carbon products used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats.

Read More: What sectors are represented in the Hang Seng index?

Receive News & Ratings for Ingevity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingevity and related companies with MarketBeat.com's FREE daily email newsletter.