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.

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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.

Analyst Recommendations for Ingevity Corp (NASDAQ:NGVT)

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