Wall Street Zen Upgrades Ingevity (NYSE:NGVT) to “Strong-Buy”

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

NGVT has been the topic of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. BMO Capital Markets increased their price target on shares of Ingevity from $64.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Zacks Research upgraded shares of Ingevity to a “hold” rating in a research note on Tuesday, December 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $82.00 target price on shares of Ingevity in a report on Thursday. Finally, Wells Fargo & Company raised their price target on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ingevity presently has an average rating of “Hold” and an average price target of $75.67.

Ingevity Stock Up 2.0%

NGVT opened at $71.95 on Friday. Ingevity has a one year low of $28.49 and a one year high of $77.46. 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 stock has a market capitalization of $2.59 billion, a P/E ratio of -15.47 and a beta of 1.34. The business’s 50-day simple moving average is $67.23 and its 200-day simple moving average is $59.16.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). The firm had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $257.27 million. Ingevity had a positive return on equity of 100.39% and a negative net margin of 13.51%.The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Analysts anticipate that Ingevity will post 4.45 EPS for the current year.

Institutional Investors Weigh In On Ingevity

A number of institutional investors have recently added to or reduced their stakes in NGVT. Global Retirement Partners LLC acquired a new position in Ingevity during the 4th quarter worth approximately $27,000. Oakworth Capital Inc. acquired a new stake in shares of Ingevity in the 3rd quarter valued at approximately $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Ingevity in the fourth quarter valued at approximately $33,000. Geneos Wealth Management Inc. boosted its stake in shares of 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. Finally, Headlands Technologies LLC acquired a new position in Ingevity during the second quarter worth $46,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Company Profile

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.