Ingevity (NYSE:NGVT) Downgraded by Wall Street Zen to “Buy”

Ingevity (NYSE:NGVT) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other research analysts have also recently issued reports on NGVT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Wednesday, October 8th. BMO Capital Markets raised their price target on Ingevity from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Finally, Wells Fargo & Company boosted their price objective on Ingevity from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ingevity currently has an average rating of “Hold” and an average price target of $61.50.

Ingevity Stock Up 1.3%

Shares of NYSE NGVT opened at $52.91 on Friday. Ingevity has a 52-week low of $28.49 and a 52-week high of $60.77. The company has a debt-to-equity ratio of 8.39, a quick ratio of 0.80 and a current ratio of 1.27. The business has a fifty day moving average of $52.77 and a two-hundred day moving average of $50.19. The stock has a market cap of $1.90 billion, a PE ratio of -29.07 and a beta of 1.40.

Ingevity (NYSE:NGVT) last announced its earnings results on Friday, March 24th. The company reported $0.78 earnings per share (EPS) for the quarter. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. The business had revenue of $336.00 million during the quarter. As a group, equities research analysts expect that Ingevity will post 4.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Oakworth Capital Inc. acquired a new position in shares of Ingevity in the 3rd quarter valued at approximately $28,000. Geneos Wealth Management Inc. lifted its stake in Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after buying an additional 387 shares in the last quarter. Headlands Technologies LLC bought a new position in Ingevity in the second quarter valued at approximately $46,000. CIBC Private Wealth Group LLC acquired a new position in shares of Ingevity in the third quarter valued at approximately $62,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Ingevity during the second quarter worth $60,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

About Ingevity

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.