Ingevity (NGVT) Sets New 1-Year High and Low at $84.87

Ingevity (NYSE:NGVT) reached a new 52-week high and low on Monday . The company traded as low as $84.87 and last traded at $83.81, with a volume of 4906 shares changing hands. The stock had previously closed at $84.57.

A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Ingevity from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Thursday, May 10th. Oppenheimer reaffirmed a “buy” rating on shares of Ingevity in a report on Wednesday, May 9th. KeyCorp lifted their price objective on Ingevity from $89.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, May 4th. TheStreet raised Ingevity from a “c” rating to a “b-” rating in a report on Monday, April 30th. Finally, Buckingham Research upgraded shares of Ingevity from a “neutral” rating to a “buy” rating and lifted their target price for the company from $64.00 to $92.00 in a research note on Thursday, March 8th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Ingevity currently has a consensus rating of “Buy” and an average target price of $86.78.

The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.39 and a current ratio of 2.67. The company has a market cap of $3.54 billion, a PE ratio of 32.65, a P/E/G ratio of 2.04 and a beta of 1.04.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.16. Ingevity had a net margin of 13.96% and a return on equity of 48.09%. The company had revenue of $235.20 million during the quarter, compared to analysts’ expectations of $231.76 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. Ingevity’s quarterly revenue was up 7.6% compared to the same quarter last year. equities analysts expect that Ingevity will post 3.44 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of NGVT. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 purchasing an additional 807 shares during the last quarter. Quantbot Technologies LP raised its position in Ingevity by 1,735.5% in the 1st quarter. Quantbot Technologies LP now owns 2,588 shares of the company’s stock worth $190,000 after purchasing an additional 2,447 shares during the last quarter. Jane Street Group LLC bought a new position in Ingevity in the 4th quarter worth approximately $206,000. Greenwood Capital Associates LLC bought a new position in Ingevity in the 4th quarter worth approximately $223,000. Finally, Miles Capital Inc. bought a new position in Ingevity in the 4th quarter worth approximately $231,000. Institutional investors own 90.79% of the company’s stock.

About Ingevity

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

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