Ingevity Co. (NYSE:NGVT) Receives Average Rating of “Hold” from Analysts

Shares of Ingevity Co. (NYSE:NGVT) have been assigned an average recommendation of “Hold” from the four ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating. The average 1-year target price among brokerages that have covered the stock in the last year is $48.75.

Separately, Wells Fargo & Company upped their price target on Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $45.32 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.96 and a debt-to-equity ratio of 2.19. The company’s 50 day moving average is $46.15 and its 200 day moving average is $43.67. Ingevity has a twelve month low of $36.66 and a twelve month high of $74.74. The company has a market cap of $1.64 billion, a PE ratio of -206.00 and a beta of 1.85.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.34. Ingevity had a negative net margin of 0.32% and a positive return on equity of 20.75%. The business had revenue of $371.70 million for the quarter, compared to the consensus estimate of $336.74 million. During the same period last year, the firm posted $0.57 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. On average, sell-side analysts forecast that Ingevity will post 3.65 EPS for the current year.

Hedge Funds Weigh In On Ingevity

A number of large investors have recently bought and sold shares of the company. TFO Wealth Partners LLC lifted its holdings in Ingevity by 40,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after acquiring an additional 815 shares during the period. GAMMA Investing LLC purchased a new stake in Ingevity during the fourth quarter worth about $41,000. Principal Securities Inc. acquired a new position in Ingevity during the fourth quarter worth about $67,000. Quadrant Capital Group LLC increased its holdings in Ingevity by 207.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $98,000 after buying an additional 1,401 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Ingevity by 15.7% during the 3rd quarter. FMR LLC now owns 2,394 shares of the company’s stock valued at $114,000 after acquiring an additional 324 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Company Profile

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.