Ingevity (NYSE:NGVT) Price Target Increased to $56.00 by Analysts at Loop Capital

Ingevity (NYSE:NGVT) had its price objective lifted by Loop Capital from $49.00 to $56.00 in a report released on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms also recently issued reports on NGVT. Oppenheimer lifted their price objective on Ingevity from $50.00 to $58.00 and gave the stock an outperform rating in a research note on Thursday, May 2nd. Wells Fargo & Company lifted their price objective on shares of Ingevity from $43.00 to $50.00 and gave the stock an equal weight rating in a research note on Friday, February 23rd. Finally, Jefferies Financial Group raised shares of Ingevity from a hold rating to a buy rating and increased their price target for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Ingevity presently has an average rating of Hold and an average price target of $53.00.

Ingevity Stock Performance

NYSE:NGVT opened at $53.70 on Tuesday. The stock has a 50-day moving average price of $47.24 and a 200 day moving average price of $44.38. The company has a current ratio of 1.90, a quick ratio of 0.98 and a debt-to-equity ratio of 2.48. Ingevity has a 12-month low of $36.66 and a 12-month high of $66.18. The stock has a market capitalization of $1.95 billion, a P/E ratio of -17.27 and a beta of 1.79.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.37 by $0.15. The firm had revenue of $340.10 million for the quarter, compared to the consensus estimate of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Equities research analysts forecast that Ingevity will post 3.78 EPS for the current fiscal year.

Institutional Trading of Ingevity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGVT. Vanguard Group Inc. raised its holdings in shares of Ingevity by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock worth $176,760,000 after buying an additional 153,530 shares during the period. Wellington Management Group LLP grew its position in shares of Ingevity by 3.9% in the 4th quarter. Wellington Management Group LLP now owns 2,148,379 shares of the company’s stock worth $101,446,000 after buying an additional 80,856 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Ingevity by 57.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,854,554 shares of the company’s stock worth $87,572,000 after acquiring an additional 677,718 shares in the last quarter. Brown Advisory Inc. boosted its stake in Ingevity by 7.0% in the fourth quarter. Brown Advisory Inc. now owns 793,942 shares of the company’s stock valued at $37,490,000 after acquiring an additional 52,187 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Ingevity by 14.4% during the third quarter. American Century Companies Inc. now owns 494,464 shares of the company’s stock worth $23,541,000 after purchasing an additional 62,418 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.