Loop Capital Lowers Ingevity (NGVT) Price Target to $80.00
Ingevity (NYSE:NGVT) had its target price decreased by equities research analysts at Loop Capital from $83.00 to $80.00 in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price target indicates a potential upside of 12.76% from the stock’s previous close.
NGVT has been the topic of several other reports. Rowe reiterated an “outperform” rating and issued a $90.00 target price (up from $80.00) on shares of Ingevity in a report on Thursday, November 30th. BidaskClub upgraded Ingevity from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Wednesday, October 4th. KeyCorp reiterated a “buy” rating and issued a $75.00 target price (up from $70.00) on shares of Ingevity in a report on Thursday, October 5th. Finally, Jefferies Group upped their target price on Ingevity from $71.00 to $84.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Seven equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $78.17.
Ingevity (NYSE:NGVT) traded down $1.26 during trading hours on Tuesday, hitting $70.95. The stock had a trading volume of 202,700 shares, compared to its average volume of 252,374. The company has a market capitalization of $2,988.09, a PE ratio of 31.96, a P/E/G ratio of 2.37 and a beta of 1.78. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.34 and a current ratio of 2.36. Ingevity has a 52 week low of $51.01 and a 52 week high of $80.18.
Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.11. The company had revenue of $264.10 million for the quarter, compared to analysts’ expectations of $260.88 million. Ingevity had a return on equity of 58.14% and a net margin of 9.86%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. equities analysts forecast that Ingevity will post 2.49 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Ingevity by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,716 shares of the company’s stock worth $270,000 after buying an additional 21 shares in the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of Ingevity by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,548 shares of the company’s stock worth $318,000 after buying an additional 57 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Ingevity by 5.4% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,072 shares of the company’s stock worth $234,000 after buying an additional 210 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Ingevity by 5.4% during the 2nd quarter. Amalgamated Bank now owns 5,963 shares of the company’s stock worth $342,000 after buying an additional 307 shares in the last quarter. Finally, Hosking Partners LLP boosted its holdings in shares of Ingevity by 1.6% during the 2nd quarter. Hosking Partners LLP now owns 21,797 shares of the company’s stock worth $1,251,000 after buying an additional 342 shares in the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.
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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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