Ingevity Corp (NASDAQ:NGVT) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.

Several other research analysts have also commented on NGVT. Aegis reissued a “buy” rating and issued a $67.00 price objective on shares of Ingevity Corp in a research note on Tuesday, July 4th. Zacks Investment Research raised shares of Ingevity Corp from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, July 5th. Jefferies Group LLC set a $68.00 price objective on shares of Ingevity Corp and gave the company a “buy” rating in a research note on Wednesday, July 5th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $70.00 target price on shares of Ingevity Corp in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Ingevity Corp has a consensus rating of “Hold” and a consensus target price of $66.40.

Ingevity Corp (NGVT) traded down 0.34% during midday trading on Friday, hitting $59.32. 431,967 shares of the stock traded hands. The company’s 50-day moving average is $60.00 and its 200 day moving average is $58.57. Ingevity Corp has a 12-month low of $40.24 and a 12-month high of $61.96. The firm has a market cap of $2.50 billion and a P/E ratio of 47.38.

Ingevity Corp (NASDAQ:NGVT) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.78 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 business had revenue of $260.30 million during the quarter, compared to analyst estimates of $259.56 million. The company’s revenue was up 2.3% on a year-over-year basis. On average, analysts anticipate that Ingevity Corp will post $2.40 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in Ingevity Corp by 0.4% in the second quarter. PNC Financial Services Group Inc. now owns 4,716 shares of the company’s stock valued at $270,000 after acquiring an additional 21 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in Ingevity Corp by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,548 shares of the company’s stock valued at $318,000 after acquiring an additional 57 shares in the last quarter. Virginia Retirement Systems ET AL raised its holdings 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 valued at $272,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System raised its holdings in Ingevity Corp by 0.5% in the second quarter. Arizona State Retirement System now owns 22,000 shares of the company’s stock valued at $1,263,000 after acquiring an additional 100 shares in the last quarter. Finally, Elkfork Partners LLC raised its holdings in Ingevity Corp by 7.1% in the first quarter. Elkfork Partners LLC now owns 2,002 shares of the company’s stock valued at $122,000 after acquiring an additional 132 shares in the last quarter.

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.

Analyst Recommendations for Ingevity Corp (NASDAQ:NGVT)

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