Ingevity Co. (NYSE:NGVT) Receives $48.75 Average Price Target from Brokerages

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

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

Ingevity Stock Performance

NYSE:NGVT opened at $43.84 on Friday. The company has a market cap of $1.59 billion, a P/E ratio of -199.27 and a beta of 1.85. The firm’s 50 day moving average is $46.23 and its two-hundred day moving average is $43.58. Ingevity has a fifty-two week low of $36.66 and a fifty-two week high of $73.43. The company has a quick ratio of 0.96, a current ratio of 1.81 and a debt-to-equity ratio of 2.19.

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 analysts’ consensus estimates of ($0.13) by $0.34. The firm had revenue of $371.70 million during the quarter, compared to the consensus estimate of $336.74 million. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. Analysts expect that Ingevity will post 3.65 EPS for the current year.

Institutional Investors Weigh In On Ingevity

Institutional investors and hedge funds have recently made changes to their positions in the company. TFO Wealth Partners LLC lifted its holdings in Ingevity by 40,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock worth $39,000 after acquiring an additional 815 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Ingevity during the 4th quarter worth approximately $41,000. Principal Securities Inc. bought a new stake in shares of Ingevity in the 4th quarter worth approximately $67,000. Quadrant Capital Group LLC boosted its position in Ingevity by 207.9% during the 4th 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 boosted its position in Ingevity by 15.7% during the 3rd 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.

About Ingevity

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.