Ingevity (NYSE:NGVT) Upgraded at StockNews.com

Ingevity (NYSE:NGVT) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Separately, BMO Capital Markets raised Ingevity from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ingevity has an average rating of “Moderate Buy” and a consensus price target of $55.17.

Ingevity Stock Performance

Shares of NYSE NGVT traded down $3.30 during trading hours on Friday, reaching $31.37. 415,306 shares of the stock were exchanged, compared to its average volume of 269,005. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -2.65 and a beta of 1.52. The stock’s fifty day simple moving average is $44.11 and its 200 day simple moving average is $42.51. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. Ingevity has a 52 week low of $30.12 and a 52 week high of $56.30.

Ingevity (NYSE:NGVT) last posted its earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $298.80 million during the quarter, compared to the consensus estimate of $297.40 million. Sell-side analysts predict that Ingevity will post 4.45 EPS for the current year.

Institutional Trading of Ingevity

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in Ingevity by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock worth $91,279,000 after acquiring an additional 115,581 shares in the last quarter. State Street Corp grew its holdings in shares of Ingevity by 14.7% during the 3rd quarter. State Street Corp now owns 1,546,957 shares of the company’s stock valued at $60,331,000 after purchasing an additional 198,300 shares during the last quarter. American Century Companies Inc. increased its position in Ingevity by 37.7% during the 4th quarter. American Century Companies Inc. now owns 1,457,365 shares of the company’s stock worth $59,388,000 after purchasing an additional 398,800 shares in the last quarter. Segall Bryant & Hamill LLC lifted its stake in Ingevity by 8.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,287,281 shares of the company’s stock valued at $52,457,000 after purchasing an additional 101,866 shares during the last quarter. Finally, Royce & Associates LP boosted its position in Ingevity by 22.4% in the fourth quarter. Royce & Associates LP now owns 1,142,598 shares of the company’s stock valued at $46,561,000 after buying an additional 208,921 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

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.