Ingevity Co. (NYSE:NGVT – Get Free Report)’s stock price reached a new 52-week low during trading on Monday after BMO Capital Markets lowered their price target on the stock from $45.00 to $42.00. BMO Capital Markets currently has a market perform rating on the stock. Ingevity traded as low as $36.27 and last traded at $36.37, with a volume of 36365 shares trading hands. The stock had previously closed at $41.20.
Several other brokerages also recently commented on NGVT. Wells Fargo & Company reduced their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday. Oppenheimer reduced their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday. Loop Capital upped their price target on shares of Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Finally, Jefferies Financial Group raised Ingevity from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $62.00 in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ingevity presently has a consensus rating of “Hold” and an average target price of $49.83.
Institutional Trading of Ingevity
Institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC boosted its holdings in shares of Ingevity by 1.3% in the 4th quarter. Jennison Associates LLC now owns 19,588 shares of the company’s stock valued at $925,000 after buying an additional 249 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Ingevity by 3.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock valued at $326,000 after acquiring an additional 279 shares during the period. Louisiana State Employees Retirement System increased its position in Ingevity by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $743,000 after buying an additional 300 shares during the period. Savant Capital LLC increased its position in Ingevity by 0.4% during the 4th quarter. Savant Capital LLC now owns 84,327 shares of the company’s stock worth $3,982,000 after buying an additional 342 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in Ingevity by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company’s stock worth $1,402,000 after buying an additional 388 shares during the period. 91.59% of the stock is owned by institutional investors.
Ingevity Stock Down 14.1 %
The company has a current ratio of 1.92, a quick ratio of 0.98 and a debt-to-equity ratio of 4.92. The stock has a market cap of $1.29 billion, a P/E ratio of -11.47 and a beta of 1.66. The firm has a 50-day simple moving average of $45.02 and a two-hundred day simple moving average of $46.49.
Ingevity (NYSE:NGVT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). The firm had revenue of $390.60 million for the quarter, compared to the consensus estimate of $407.58 million. Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. Equities research analysts expect that Ingevity Co. will post 3.47 earnings per share for the current fiscal year.
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.