Jefferies Group LLC Analysts Give Ingevity Corp (NGVT) a $68.00 Price Target
Ingevity Corp (NASDAQ:NGVT) has been given a $68.00 price target by Jefferies Group LLC in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. Jefferies Group LLC’s price target would indicate a potential upside of 21.47% from the company’s current price.
Other analysts also recently issued research reports about the stock. Aegis reaffirmed a “buy” rating and set a $67.00 price target on shares of Ingevity Corp in a report on Tuesday. Zacks Investment Research raised shares of Ingevity Corp from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $60.40.
Ingevity Corp (NASDAQ:NGVT) traded up 0.41% on Wednesday, reaching $56.21. 29,644 shares of the company traded hands. Ingevity Corp has a 52-week low of $33.90 and a 52-week high of $65.02. The firm has a market cap of $2.37 billion and a P/E ratio of 53.03. The stock has a 50-day moving average price of $57.80 and a 200-day moving average price of $57.32.
Ingevity Corp (NASDAQ:NGVT) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. Ingevity Corp had a net margin of 10.53% and a return on equity of 55.06%. The company had revenue of $218.50 million during the quarter, compared to the consensus estimate of $206.90 million. Analysts anticipate that Ingevity Corp will post $2.31 earnings per share for the current fiscal year.
In related news, Director Jean S. Blackwell acquired 1,500 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average cost of $58.38 per share, for a total transaction of $87,570.00. Following the transaction, the director now directly owns 4,711 shares in the company, valued at $275,028.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Institutional investors have recently added to or reduced their stakes in the company. Fruth Investment Management boosted its position in Ingevity Corp by 0.6% in the first quarter. Fruth Investment Management now owns 9,099 shares of the company’s stock worth $553,000 after buying an additional 55 shares in the last quarter. Virginia Retirement Systems ET AL boosted its position in Ingevity Corp by 2.3% in the first quarter. Virginia Retirement Systems ET AL now owns 4,466 shares of the company’s stock worth $272,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Ingevity Corp by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,670 shares of the company’s stock worth $284,000 after buying an additional 110 shares in the last quarter. Elkfork Partners LLC boosted its position in Ingevity Corp by 7.1% in the first quarter. Elkfork Partners LLC now owns 2,002 shares of the company’s stock worth $122,000 after buying an additional 132 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in Ingevity Corp by 1.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,620 shares of the company’s stock worth $585,000 after buying an additional 160 shares in the last quarter.
Ingevity Corp Company Profile
Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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