Zacks Investment Research cut shares of Ingevity (NYSE:NGVT) from a strong-buy rating to a hold rating in a report issued on Thursday morning.
According to Zacks, “Ingevity Corporation provides specialty chemicals, carbon materials and technologies. The Company’s operating segments consists of Performance Materials and Performance Chemicals. Performance Chemicals segment products consists of asphalt paving, adhesives, agrochemical dispersants, printing inks, lubricants, petroleum and other diverse industries. Performance Materials segment engineers, manufactures and sells wood-based chemically activated carbon products. Ingevity Corporation is based in North Charleston, SC. “
Other analysts have also recently issued reports about the company. KeyCorp restated an overweight rating and set a $89.00 price target (up from $78.00) on shares of Ingevity in a report on Friday, February 23rd. Buckingham Research upgraded Ingevity from a neutral rating to a buy rating and boosted their price target for the stock from $64.00 to $92.00 in a report on Thursday, March 8th. Rowe restated an outperform rating and set a $90.00 price target (up from $80.00) on shares of Ingevity in a report on Thursday, November 30th. Loop Capital cut Ingevity from a buy rating to a hold rating and set a $80.00 price target on the stock. in a report on Tuesday, February 27th. Finally, Jefferies Group boosted their price target on Ingevity to $92.00 and gave the stock a buy rating in a report on Thursday, March 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Ingevity has a consensus rating of Buy and a consensus price target of $86.13.
Shares of Ingevity (NGVT) opened at $77.25 on Thursday. The firm has a market capitalization of $3,250.29, a PE ratio of 29.94, a PEG ratio of 1.93 and a beta of 0.93. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.36 and a current ratio of 2.41. Ingevity has a twelve month low of $53.62 and a twelve month high of $82.10.
Ingevity (NYSE:NGVT) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.09. The company had revenue of $229.50 million for the quarter, compared to analysts’ expectations of $214.94 million. Ingevity had a return on equity of 50.74% and a net margin of 12.99%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. research analysts anticipate that Ingevity will post 3.34 EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Chicago Equity Partners LLC acquired a new position in shares of Ingevity in the fourth quarter worth approximately $427,000. OxFORD Asset Management LLP lifted its stake in shares of Ingevity by 20.0% in the third quarter. OxFORD Asset Management LLP now owns 165,512 shares of the company’s stock worth $10,430,000 after acquiring an additional 27,624 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ingevity by 50.0% in the fourth 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 period. WINTON GROUP Ltd lifted its stake in shares of Ingevity by 151.5% in the third quarter. WINTON GROUP Ltd now owns 65,528 shares of the company’s stock worth $4,094,000 after acquiring an additional 39,473 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Ingevity by 4.7% in the third quarter. Ameriprise Financial Inc. now owns 300,514 shares of the company’s stock worth $18,774,000 after acquiring an additional 13,448 shares during the period. 89.94% of the stock is currently owned by institutional investors.
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Ingevity Company Profile
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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