Ingevity (NYSE:NGVT – Get Rating) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Sunday.
Separately, TheStreet raised Ingevity from a “c” rating to a “b-” rating in a research report on Friday, May 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.00.
Ingevity stock opened at $64.04 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.33 and a quick ratio of 0.86. Ingevity has a one year low of $56.31 and a one year high of $88.58. The stock has a market capitalization of $2.48 billion, a PE ratio of 19.52 and a beta of 1.96. The business’s fifty day moving average is $65.92 and its 200 day moving average is $66.83.
Ingevity (NYSE:NGVT – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.11 by $0.51. Ingevity had a return on equity of 32.84% and a net margin of 8.95%. The company had revenue of $382.80 million for the quarter, compared to analysts’ expectations of $341.58 million. During the same period last year, the firm posted $1.27 earnings per share. Ingevity’s revenue was up 19.5% compared to the same quarter last year. As a group, sell-side analysts expect that Ingevity will post 5.95 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of NGVT. Inclusive Capital Partners L.P. raised its stake in shares of Ingevity by 158.8% in the first quarter. Inclusive Capital Partners L.P. now owns 2,006,405 shares of the company’s stock worth $128,550,000 after buying an additional 1,231,106 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Ingevity by 1,315.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 814,423 shares of the company’s stock worth $58,395,000 after buying an additional 756,903 shares during the period. Credit Suisse AG raised its stake in shares of Ingevity by 1,081.2% in the fourth quarter. Credit Suisse AG now owns 440,589 shares of the company’s stock worth $31,591,000 after buying an additional 403,289 shares during the period. BlackRock Inc. raised its stake in shares of Ingevity by 7.4% in the first quarter. BlackRock Inc. now owns 4,657,366 shares of the company’s stock worth $298,398,000 after buying an additional 322,066 shares during the period. Finally, Leeward Investments LLC MA bought a new position in shares of Ingevity in the first quarter worth about $10,428,000. 96.34% of the stock is currently owned by hedge funds and other institutional investors.
Ingevity Company Profile (Get Rating)
Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. 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, motorcycles, trucks, and boats.
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