Ingevity Corp (NGVT) Reaches New 52-Week High at $46.81
Shares of Ingevity Corp (NASDAQ:NGVT) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.81 and last traded at $45.91, with a volume of 45,248 shares changing hands. The stock had previously closed at $46.28.
Several research firms have issued reports on NGVT. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $50.00 price target (up previously from $44.00) on shares of Ingevity Corp in a research note on Wednesday, September 7th. Zacks Investment Research raised Ingevity Corp from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Tuesday, August 9th. SunTrust Banks Inc. reissued a “buy” rating on shares of Ingevity Corp in a research note on Saturday, August 6th. KeyCorp began coverage on Ingevity Corp in a research note on Thursday, July 7th. They issued an “overweight” rating and a $43.00 price target on the stock. Finally, BB&T Corp. began coverage on Ingevity Corp in a research note on Friday, June 10th. They issued a “buy” rating and a $44.00 price target on the stock. Five research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $46.50.
The firm’s 50-day moving average is $43.61 and its 200 day moving average is $37.83. The company has a market capitalization of $1.94 billion and a P/E ratio of 30.86.
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Ingevity Corp (NASDAQ:NGVT) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.15. On average, equities analysts expect that Ingevity Corp will post $1.92 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of NGVT. FMR LLC bought a new position in shares of Ingevity Corp during the second quarter valued at $136,213,000. Vanguard Group Inc. bought a new position in shares of Ingevity Corp during the second quarter valued at $118,442,000. BlackRock Fund Advisors bought a new position in shares of Ingevity Corp during the second quarter valued at $93,133,000. Capital World Investors bought a new position in shares of Ingevity Corp during the second quarter valued at $55,943,000. Finally, Ruffer LLP bought a new position in shares of Ingevity Corp during the second quarter valued at $41,128,000.
About Ingevity Corp
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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