Ingevity (NYSE:NGVT) Rating Lowered to Buy at Wall Street Zen

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

NGVT has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a report on Tuesday, April 21st. BMO Capital Markets restated an “outperform” rating and set a $83.00 target price on shares of Ingevity in a report on Monday, March 2nd. Two research 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $80.00.

Ingevity Stock Performance

Shares of Ingevity stock opened at $76.47 on Monday. The stock’s fifty day simple moving average is $71.37 and its 200 day simple moving average is $68.66. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 27.83. The company has a market capitalization of $2.66 billion, a PE ratio of -21.54 and a beta of 1.18. Ingevity has a 12 month low of $39.74 and a 12 month high of $79.29.

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

Insider Activity

In other Ingevity news, SVP Terrance M. Dyer sold 496 shares of Ingevity stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $68.49, for a total value of $33,971.04. Following the sale, the senior vice president owned 7,202 shares of the company’s stock, valued at $493,264.98. This trade represents a 6.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Assetmark Inc. lifted its stake in Ingevity by 9.6% in the first quarter. Assetmark Inc. now owns 1,584 shares of the company’s stock valued at $113,000 after buying an additional 139 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Ingevity by 15.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,870 shares of the company’s stock worth $103,000 after purchasing an additional 254 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Ingevity by 4.4% during the 3rd quarter. Advisory Services Network LLC now owns 6,947 shares of the company’s stock worth $383,000 after purchasing an additional 293 shares in the last quarter. Amundi grew its stake in shares of Ingevity by 4.8% in the 3rd quarter. Amundi now owns 6,626 shares of the company’s stock valued at $364,000 after buying an additional 302 shares during the period. Finally, Isthmus Partners LLC grew its stake in shares of Ingevity by 0.5% in the 4th quarter. Isthmus Partners LLC now owns 72,245 shares of the company’s stock valued at $4,275,000 after buying an additional 375 shares during the period. 91.59% of the stock is currently owned by institutional investors.

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.