Ingevity (NYSE:NGVT) Rating Increased to Strong-Buy at Wall Street Zen

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

NGVT has been the subject of a number of other reports. BMO Capital Markets reissued an “outperform” rating and issued a $83.00 price target on shares of Ingevity in a report on Monday, March 2nd. Wells Fargo & Company boosted their target price on shares of Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Ingevity in a report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ingevity presently has a consensus rating of “Hold” and a consensus price target of $80.00.

Ingevity Trading Down 0.3%

NYSE NGVT opened at $73.17 on Friday. Ingevity has a 1 year low of $39.74 and a 1 year high of $79.29. The company has a debt-to-equity ratio of 27.83, a current ratio of 1.42 and a quick ratio of 0.92. The company has a market capitalization of $2.54 billion, a PE ratio of -20.61 and a beta of 1.18. The company has a fifty day moving average of $71.50 and a 200 day moving average of $67.79.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.31. The company had revenue of $258.00 million for the quarter, compared to the consensus estimate of $254.73 million. Ingevity had a positive return on equity of 207.82% and a negative net margin of 10.55%.The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Research analysts forecast that Ingevity will post 5.05 earnings per share for the current year.

Insider Buying and Selling

In other Ingevity news, SVP Terrance M. Dyer sold 496 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $68.49, for a total value of $33,971.04. Following the completion of the sale, the senior vice president owned 7,202 shares in the company, valued at approximately $493,264.98. This represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its stake in shares of Ingevity by 4.5% in the 1st quarter. Pacer Advisors Inc. now owns 170,543 shares of the company’s stock valued at $12,148,000 after buying an additional 7,315 shares during the period. Edgestream Partners L.P. raised its position in shares of Ingevity by 11.3% during the 1st quarter. Edgestream Partners L.P. now owns 100,487 shares of the company’s stock valued at $7,158,000 after buying an additional 10,169 shares during the period. Amundi raised its position in shares of Ingevity by 116.0% during the 1st quarter. Amundi now owns 9,389 shares of the company’s stock valued at $669,000 after buying an additional 5,042 shares during the period. California State Teachers Retirement System lifted its holdings in Ingevity by 16.8% in the first quarter. California State Teachers Retirement System now owns 40,537 shares of the company’s stock valued at $2,887,000 after acquiring an additional 5,828 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Ingevity in the first quarter valued at approximately $373,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

About Ingevity

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.