Zacks: Ingevity Corp (NASDAQ:NGVT) Given Consensus Recommendation of “Strong Buy” by Brokerages
Shares of Ingevity Corp (NASDAQ:NGVT) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus target price of $51.00 for the company and are anticipating that the company will post $0.59 EPS for the current quarter, according to Zacks. Zacks has also assigned Ingevity Corp an industry rank of 49 out of 265 based on the ratings given to its competitors.
A number of research analysts have recently issued reports on NGVT shares. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $50.00 price target (up from $44.00) on shares of Ingevity Corp in a research report on Wednesday, September 7th. Zacks Investment Research upgraded shares of Ingevity Corp from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, August 9th. SunTrust Banks Inc. restated a “buy” rating on shares of Ingevity Corp in a research report on Saturday, August 6th. KeyCorp started coverage on shares of Ingevity Corp in a research report on Thursday, July 7th. They issued an “overweight” rating and a $43.00 price target on the stock. Finally, BB&T Corp. started coverage on shares of Ingevity Corp in a research report on Friday, June 10th. They issued a “buy” rating and a $44.00 price target on the stock.
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Ingevity Corp (NASDAQ:NGVT) traded up 1.07% on Tuesday, reaching $46.25. 45,449 shares of the company’s stock were exchanged. Ingevity Corp has a 12-month low of $23.00 and a 12-month high of $46.71. The firm has a 50 day moving average of $43.40 and a 200-day moving average of $36.57.
Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.15. On average, analysts expect that Ingevity Corp will post $1.92 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of NGVT. Advisors Asset Management Inc. purchased a new stake in shares of Ingevity Corp during the second quarter valued at $135,000. Amalgamated Bank purchased a new stake in shares of Ingevity Corp during the second quarter valued at $221,000. PineBridge Investments L.P. purchased a new stake in shares of Ingevity Corp during the second quarter valued at $181,000. Ancora Advisors LLC purchased a new stake in shares of Ingevity Corp during the second quarter valued at $200,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Ingevity Corp during the second quarter valued at $202,000.
Ingevity Corp Company Profile
Ingevity Corporation is a manufacturer of specialty chemicals, carbon materials and technologies. The Company operates through two segments: Performance Materials and Performance Chemicals. The Company’s specialty chemicals products serve as inputs used in a range of high performance applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants and printing inks.
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