Loop Capital Reiterates Buy Rating for Ingevity Corp (NGVT)
Ingevity Corp (NYSE:NGVT)‘s stock had its “buy” rating reissued by equities research analysts at Loop Capital in a research report issued to clients and investors on Tuesday. They presently have a $80.00 target price on the stock, up from their prior target price of $76.00. Loop Capital’s price objective would indicate a potential upside of 6.41% from the company’s previous close.
NGVT has been the subject of a number of other reports. KeyCorp reaffirmed a “buy” rating and issued a $70.00 price target on shares of Ingevity Corp in a report on Friday, September 8th. Zacks Investment Research raised Ingevity Corp from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub raised Ingevity Corp from a “strong sell” rating to a “sell” rating in a report on Friday, September 22nd. Finally, Jefferies Group LLC upped their price target on Ingevity Corp from $71.00 to $84.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Seven equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $73.17.
Shares of Ingevity Corp (NGVT) traded up $0.44 during trading on Tuesday, hitting $75.18. The stock had a trading volume of 186,164 shares, compared to its average volume of 228,717. Ingevity Corp has a 1-year low of $46.66 and a 1-year high of $76.00.
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Hedge funds and other institutional investors have recently modified their holdings of the business. Pacad Investment Ltd. purchased a new stake in Ingevity Corp in the second quarter valued at approximately $183,000. Cubist Systematic Strategies LLC purchased a new stake in Ingevity Corp in the second quarter valued at approximately $203,000. Balyasny Asset Management LLC purchased a new stake in Ingevity Corp in the second quarter valued at approximately $213,000. Flagship Harbor Advisors LLC purchased a new stake in Ingevity Corp in the third quarter valued at approximately $216,000. Finally, Teacher Retirement System of Texas purchased a new stake in Ingevity Corp in the third quarter valued at approximately $218,000.
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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