Ingevity (NYSE:NGVT) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Ingevity (NYSE:NGVT) had its target price upped by BMO Capital Markets from $40.00 to $47.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 12.79% from the stock’s previous close.

NGVT has been the subject of several other research reports. Wells Fargo & Company decreased their target price on Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Oppenheimer reduced their target price on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.17.

Ingevity Trading Up 0.0 %

NYSE NGVT opened at $41.67 on Thursday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -3.39 and a beta of 1.62. The company has a debt-to-equity ratio of 4.92, a quick ratio of 1.07 and a current ratio of 1.92. Ingevity has a one year low of $30.90 and a one year high of $56.29. The company’s 50 day moving average price is $36.72 and its 200 day moving average price is $42.42.

Ingevity (NYSE:NGVT) last issued its earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.50. Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. During the same quarter last year, the firm posted $1.21 EPS. The business’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, sell-side analysts predict that Ingevity will post 2.2 EPS for the current year.

Institutional Trading of Ingevity

Hedge funds have recently made changes to their positions in the stock. Amalgamated Bank raised its holdings in Ingevity by 2.4% in the third quarter. Amalgamated Bank now owns 10,667 shares of the company’s stock valued at $416,000 after acquiring an additional 246 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Ingevity by 3.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock worth $326,000 after acquiring an additional 279 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Ingevity by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock valued at $743,000 after acquiring an additional 300 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of Ingevity by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company’s stock valued at $1,402,000 after acquiring an additional 388 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Ingevity by 101.8% during the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock worth $43,000 after purchasing an additional 452 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

About Ingevity

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.