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

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

Other analysts also recently issued research reports about the stock. Jefferies Financial Group restated a “buy” rating and set a $82.00 price target on shares of Ingevity in a report on Thursday, February 26th. Wells Fargo & Company raised their price target on shares of Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a report on Tuesday, April 21st. Finally, BMO Capital Markets restated an “outperform” rating and set a $83.00 price target on shares of Ingevity in a report on Monday, March 2nd. Two investment 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 MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $80.00.

Ingevity Stock Up 1.8%

Shares of NYSE NGVT opened at $72.18 on Friday. The company has a 50 day simple moving average of $71.39 and a 200-day simple moving average of $67.08. The company has a market capitalization of $2.51 billion, a P/E ratio of -20.33 and a beta of 1.18. The company has a debt-to-equity ratio of 27.83, a current ratio of 1.42 and a quick ratio of 0.92. Ingevity has a 1 year low of $39.74 and a 1 year high of $79.29.

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

Insiders Place Their Bets

In related news, SVP Terrance M. Dyer sold 496 shares of Ingevity stock in a transaction that occurred on 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 trade represents a 6.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Ingevity

Several institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in Ingevity by 9.6% in the 1st quarter. Assetmark Inc. now owns 1,584 shares of the company’s stock valued at $113,000 after purchasing an additional 139 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Ingevity by 15.7% in the third quarter. EverSource Wealth Advisors LLC now owns 1,870 shares of the company’s stock valued at $103,000 after acquiring an additional 254 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Ingevity by 4.4% in the third quarter. Advisory Services Network LLC now owns 6,947 shares of the company’s stock valued at $383,000 after acquiring an additional 293 shares in the last quarter. Amundi raised its stake in shares of Ingevity by 4.8% in the third quarter. Amundi now owns 6,626 shares of the company’s stock valued at $364,000 after acquiring an additional 302 shares in the last quarter. Finally, Isthmus Partners LLC raised its stake in shares of Ingevity by 0.5% in the fourth quarter. Isthmus Partners LLC now owns 72,245 shares of the company’s stock valued at $4,275,000 after acquiring an additional 375 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

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.