ValuEngine upgraded shares of Ingevity (NYSE:NGVT) from a sell rating to a hold rating in a research note published on Saturday, ValuEngine reports.

Several other research analysts also recently commented on NGVT. Jefferies Financial Group downgraded shares of Ingevity from a buy rating to a hold rating and dropped their target price for the stock from $129.00 to $107.00 in a report on Friday, July 19th. Loop Capital upgraded shares of Ingevity from a hold rating to a buy rating in a report on Thursday, September 5th. Wells Fargo & Co started coverage on shares of Ingevity in a report on Tuesday, October 15th. They issued an outperform rating and a $100.00 target price on the stock. BMO Capital Markets dropped their target price on shares of Ingevity from $131.00 to $127.00 and set an outperform rating on the stock in a report on Friday, September 27th. Finally, Stifel Nicolaus dropped their target price on shares of Ingevity from $109.00 to $99.00 and set a hold rating on the stock in a report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $112.63.

NGVT stock opened at $84.61 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.25 and a debt-to-equity ratio of 3.51. Ingevity has a 1 year low of $72.59 and a 1 year high of $120.41. The company has a fifty day simple moving average of $84.00 and a 200 day simple moving average of $93.17. The firm has a market cap of $3.56 billion, a PE ratio of 20.49, a PEG ratio of 1.75 and a beta of 2.10.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, July 24th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.35 by $0.01. The firm had revenue of $352.80 million for the quarter, compared to the consensus estimate of $362.06 million. Ingevity had a net margin of 14.03% and a return on equity of 54.67%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. As a group, analysts forecast that Ingevity will post 4.87 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in NGVT. Invesco Ltd. increased its holdings in shares of Ingevity by 96.8% during the 2nd quarter. Invesco Ltd. now owns 1,560,605 shares of the company’s stock worth $164,129,000 after purchasing an additional 767,623 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Ingevity by 334.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 349,547 shares of the company’s stock worth $36,761,000 after purchasing an additional 269,013 shares during the period. Royal Bank of Canada increased its holdings in shares of Ingevity by 139.9% during the 2nd quarter. Royal Bank of Canada now owns 265,790 shares of the company’s stock worth $27,954,000 after purchasing an additional 155,017 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in shares of Ingevity during the 2nd quarter worth about $16,143,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Ingevity by 24.1% during the 2nd quarter. Victory Capital Management Inc. now owns 738,216 shares of the company’s stock worth $77,638,000 after purchasing an additional 143,427 shares during the period. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Ingevity Company Profile

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 hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

Further Reading: Dividend Yield

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Analyst Recommendations for Ingevity (NYSE:NGVT)

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