Ingevity (NYSE:NGVT) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Ingevity (NYSE:NGVT) from a hold rating to a buy rating in a report released on Thursday, April 4th, ValuEngine reports.

Several other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded Ingevity from a hold rating to a buy rating and set a $106.00 price target for the company in a research report on Thursday, December 6th. Oppenheimer set a $110.00 price target on Ingevity and gave the company a buy rating in a research report on Monday, December 10th. Stifel Nicolaus began coverage on Ingevity in a research report on Monday, December 10th. They issued a hold rating and a $84.00 price target for the company. Loop Capital set a $95.00 target price on Ingevity and gave the stock a hold rating in a research report on Thursday, December 13th. Finally, Jefferies Financial Group set a $68.00 target price on Ingevity and gave the stock a buy rating in a research report on Thursday, December 20th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ingevity presently has an average rating of Buy and an average target price of $102.44.

Shares of NGVT stock traded up $2.62 during trading hours on Thursday, reaching $115.15. The company had a trading volume of 215,273 shares, compared to its average volume of 342,910. Ingevity has a 12 month low of $74.98 and a 12 month high of $120.41. The company has a quick ratio of 1.26, a current ratio of 2.31 and a debt-to-equity ratio of 2.19. The firm has a market capitalization of $4.70 billion, a PE ratio of 27.88, a P/E/G ratio of 1.95 and a beta of 1.61.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, February 13th. The company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.29. The company had revenue of $278.60 million for the quarter, compared to analyst estimates of $265.60 million. Ingevity had a return on equity of 53.18% and a net margin of 14.92%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities research analysts anticipate that Ingevity will post 4.86 earnings per share for the current fiscal year.

In other Ingevity news, CAO Phillip John Platt sold 2,725 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $114.07, for a total transaction of $310,840.75. Following the sale, the chief accounting officer now directly owns 1,137 shares in the company, valued at approximately $129,697.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Katherine Pryor Burgeson sold 4,400 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $114.76, for a total value of $504,944.00. Following the transaction, the executive vice president now directly owns 8,801 shares in the company, valued at $1,010,002.76. The disclosure for this sale can be found here. Insiders sold a total of 25,125 shares of company stock worth $2,876,065 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in Ingevity in the 4th quarter worth $25,000. Signaturefd LLC raised its holdings in Ingevity by 211.9% in the 3rd quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock worth $150,000 after purchasing an additional 1,000 shares during the period. ETF Managers Group LLC raised its holdings in Ingevity by 17.4% in the 4th quarter. ETF Managers Group LLC now owns 1,793 shares of the company’s stock worth $150,000 after purchasing an additional 266 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Ingevity in the 4th quarter worth $177,000. Finally, Ibex Investors LLC bought a new position in Ingevity in the 3rd quarter worth $201,000. 94.31% of the stock is currently owned by hedge funds and other institutional investors.

About Ingevity

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. 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, trucks, motorcycles, and boats.

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Analyst Recommendations for Ingevity (NYSE:NGVT)

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