Ingevity (NYSE:NGVT – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Several other research firms have also recently weighed in on NGVT. Loop Capital dropped their price target on shares of Ingevity from $92.00 to $81.00 and set a “hold” rating for the company in a research note on Thursday, November 18th. Zacks Investment Research raised shares of Ingevity from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Sunday, February 27th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $88.20.
NGVT stock opened at $63.25 on Wednesday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 21.59 and a beta of 2.08. The company has a current ratio of 2.70, a quick ratio of 1.80 and a debt-to-equity ratio of 1.86. Ingevity has a 12 month low of $56.31 and a 12 month high of $89.55. The firm has a 50-day moving average of $67.18 and a two-hundred day moving average of $72.70.
Ingevity (NYSE:NGVT – Get Rating) last released its quarterly earnings data on Wednesday, February 23rd. The company reported $0.78 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.78. The company had revenue of $336.00 million during the quarter, compared to the consensus estimate of $289.44 million. Ingevity had a net margin of 8.49% and a return on equity of 31.41%. Ingevity’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. As a group, equities analysts forecast that Ingevity will post 5.72 earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. boosted its position in shares of Ingevity by 87.6% during the 4th quarter. Bessemer Group Inc. now owns 394 shares of the company’s stock worth $28,000 after purchasing an additional 184 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Ingevity during the 4th quarter worth approximately $53,000. Kovack Advisors Inc. boosted its position in shares of Ingevity by 11.5% during the 3rd quarter. Kovack Advisors Inc. now owns 3,035 shares of the company’s stock worth $217,000 after purchasing an additional 314 shares during the period. Virginia Retirement Systems ET AL purchased a new position in shares of Ingevity during the 3rd quarter worth approximately $228,000. Finally, LPL Financial LLC purchased a new position in Ingevity in the 3rd quarter valued at approximately $230,000. 91.16% of the stock is owned by hedge funds and other institutional investors.
About Ingevity
Ingevity Corp. engages in the manufacture of specialty chemicals and carbon materials. It operates through the following segments: Performance Chemicals and Performance Materials. The Performance Materials segment consists of automotive technologies and process purifications product families. Automotive technologies produces automotive carbon products used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats.