Ingevity (NYSE:NGVT) had its target price lifted by research analysts at KeyCorp from $78.00 to $89.00 in a research report issued on Friday. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 11.54% from the stock’s previous close.
Several other research firms have also issued reports on NGVT. Rowe reiterated an “outperform” rating and set a $90.00 target price (up from $80.00) on shares of Ingevity in a report on Thursday, November 30th. BidaskClub upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. Loop Capital restated a “buy” rating and issued a $80.00 price objective (up from $76.00) on shares of Ingevity in a report on Tuesday, November 14th. Zacks Investment Research lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Jefferies Group boosted their price objective on shares of Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $80.50.
Ingevity (NYSE:NGVT) traded up $2.42 during mid-day trading on Friday, hitting $79.79. 33,032 shares of the stock traded hands, compared to its average volume of 216,069. Ingevity has a 1 year low of $52.79 and a 1 year high of $80.18. The stock has a market capitalization of $3,270.69, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 2.23 and a beta of 1.20. The company has a quick ratio of 1.34, a current ratio of 2.40 and a debt-to-equity ratio of 1.60.
Ingevity (NYSE:NGVT) last released its earnings results on Tuesday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.09. Ingevity had a net margin of 12.99% and a return on equity of 50.75%. The firm had revenue of $229.50 million during the quarter, compared to analyst estimates of $214.94 million. During the same period last year, the business earned $0.34 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. analysts forecast that Ingevity will post 2.9 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ingevity by 50.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,420 shares of the company’s stock worth $171,000 after acquiring an additional 807 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Ingevity in the 2nd quarter worth approximately $203,000. Jane Street Group LLC purchased a new position in Ingevity in the 4th quarter worth approximately $206,000. Flagship Harbor Advisors LLC purchased a new stake in Ingevity during the 3rd quarter valued at $216,000. Finally, Teacher Retirement System of Texas purchased a new stake in Ingevity during the 3rd quarter valued at $218,000. Institutional investors own 91.55% of the company’s stock.
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Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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