Ingevity (NYSE:NGVT) Shares Down 4.5% – Should You Sell?

Ingevity Co. (NYSE:NGVT) fell 4.5% on Thursday . The stock traded as low as $41.68 and last traded at $41.37. 16,517 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 254,960 shares. The stock had previously closed at $43.32.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NGVT shares. StockNews.com downgraded Ingevity from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.17.

Ingevity Trading Down 0.3 %

The company has a market capitalization of $1.44 billion, a PE ratio of -3.35 and a beta of 1.53. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.87 and a quick ratio of 1.04. The company’s fifty day moving average is $45.16 and its 200-day moving average is $42.47.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The firm had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. On average, analysts anticipate that Ingevity Co. will post 4.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NGVT. Vestcor Inc purchased a new position in Ingevity in the third quarter worth $796,000. Geode Capital Management LLC boosted its position in shares of Ingevity by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after purchasing an additional 33,973 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Ingevity by 24.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company’s stock worth $4,586,000 after buying an additional 23,460 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Ingevity during the 4th quarter valued at about $239,000. Finally, Proficio Capital Partners LLC purchased a new stake in Ingevity in the fourth quarter valued at about $863,000. Institutional investors own 91.59% of the company’s stock.

Ingevity Company Profile

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.