Ingevity Co. (NYSE:NGVT) Receives $52.17 Average Target Price from Brokerages

Ingevity Co. (NYSE:NGVT) has been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $52.17.

Separately, BMO Capital Markets raised their price objective on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st.

Hedge Funds Weigh In On Ingevity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC increased its stake in shares of Ingevity by 33.5% in the third quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock worth $46,231,000 after buying an additional 297,135 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Ingevity during the 2nd quarter worth $11,416,000. Harvey Partners LLC bought a new stake in shares of Ingevity in the 3rd quarter worth about $7,878,000. State Street Corp increased its position in shares of Ingevity by 14.7% in the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company’s stock worth $60,331,000 after purchasing an additional 198,300 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Ingevity by 23.3% in the 3rd quarter. Royce & Associates LP now owns 933,677 shares of the company’s stock valued at $36,413,000 after purchasing an additional 176,447 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Price Performance

Ingevity stock opened at $41.46 on Thursday. Ingevity has a 1 year low of $30.90 and a 1 year high of $56.29. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The firm has a 50 day moving average price of $43.26 and a 200 day moving average price of $41.20. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -2.67 and a beta of 1.62.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data 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 analysts’ expectations of $376.95 million. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. Sell-side analysts predict that Ingevity will post 2.55 earnings per share for the current year.

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.