Ingevity Corp’s (NGVT) Buy Rating Reiterated at KeyCorp
Ingevity Corp (NASDAQ:NGVT)‘s stock had its “buy” rating restated by stock analysts at KeyCorp in a research report issued to clients and investors on Friday. They currently have a $70.00 target price on the stock. KeyCorp’s price target suggests a potential upside of 13.36% from the company’s current price.
Other equities analysts have also issued reports about the stock. Jefferies Group LLC set a $71.00 target price on shares of Ingevity Corp and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of Ingevity Corp from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Wednesday, July 5th. Finally, Aegis reiterated a “buy” rating and set a $67.00 target price on shares of Ingevity Corp in a report on Tuesday, July 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $66.40.
Shares of Ingevity Corp (NGVT) opened at 61.75 on Friday. The company has a market capitalization of $2.60 billion and a price-to-earnings ratio of 49.32. Ingevity Corp has a one year low of $40.24 and a one year high of $65.02. The firm’s 50-day moving average price is $59.18 and its 200-day moving average price is $58.77.
Ingevity Corp (NASDAQ:NGVT) last released its earnings results on Wednesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.08. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The firm had revenue of $260.30 million during the quarter, compared to analyst estimates of $259.56 million. The firm’s revenue was up 2.3% compared to the same quarter last year. Analysts anticipate that Ingevity Corp will post $2.42 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in NGVT. LSV Asset Management purchased a new position in Ingevity Corp in the 2nd quarter worth approximately $3,238,000. GMT Capital Corp purchased a new position in Ingevity Corp in the 2nd quarter worth approximately $4,417,000. Alpha Omega Wealth Management LLC purchased a new position in Ingevity Corp in the 2nd quarter worth approximately $301,000. Zevin Asset Management LLC purchased a new position in Ingevity Corp in the 2nd quarter worth approximately $368,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Ingevity Corp in the 2nd quarter worth approximately $512,000.
About Ingevity Corp
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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