Ingevity Corp (NGVT) Raised to “Buy” at BidaskClub
Ingevity Corp (NASDAQ:NGVT) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.
A number of other brokerages also recently issued reports on NGVT. Jefferies Group LLC upped their price objective on Ingevity Corp from $71.00 to $84.00 and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research downgraded Ingevity Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Loop Capital restated a “buy” rating and issued a $76.00 price objective on shares of Ingevity Corp in a research note on Wednesday, October 18th. Finally, KeyCorp restated a “buy” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Ingevity Corp in a research note on Thursday, October 5th. Seven equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $72.50.
Shares of Ingevity Corp (NGVT) traded up $2.78 during trading on Friday, reaching $75.49. The company had a trading volume of 359,790 shares, compared to its average volume of 227,017. Ingevity Corp has a 1-year low of $43.77 and a 1-year high of $75.60.
Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.11. Ingevity Corp had a return on equity of 76.78% and a net margin of 13.75%. The business had revenue of $264.10 million during the quarter, compared to the consensus estimate of $260.88 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. Ingevity Corp’s revenue was up 4.6% compared to the same quarter last year.
TRADEMARK VIOLATION WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://www.americanbankingnews.com/2017/11/04/ingevity-corp-ngvt-raised-to-buy-at-bidaskclub.html.
A number of large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its stake in Ingevity Corp by 17.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 58,201 shares of the company’s stock valued at $3,636,000 after purchasing an additional 8,646 shares during the period. Smith Asset Management Group LP bought a new position in Ingevity Corp in the 3rd quarter valued at $1,138,000. Prudential Financial Inc. grew its stake in Ingevity Corp by 142.3% in the 3rd quarter. Prudential Financial Inc. now owns 173,261 shares of the company’s stock valued at $10,824,000 after purchasing an additional 101,750 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in Ingevity Corp in the 3rd quarter valued at $328,000. Finally, Kornitzer Capital Management Inc. KS grew its stake in shares of Ingevity Corp by 2.5% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 307,149 shares of the company’s stock worth $19,188,000 after acquiring an additional 7,405 shares during the period.
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.
Receive News & Ratings for Ingevity Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingevity Corp and related companies with MarketBeat.com's FREE daily email newsletter.