Ingevity (NYSE:NGVT) Issues Quarterly Earnings Results, Beats Expectations By $0.31 EPS

Ingevity (NYSE:NGVT) posted its quarterly earnings data on Wednesday. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31, Zacks reports. Ingevity had a negative net margin of 13.51% and a positive return on equity of 126.25%. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Ingevity’s revenue for the quarter was up 4.1% on a year-over-year basis. Ingevity updated its FY 2026 guidance to 4.700-5.200 EPS.

Ingevity Price Performance

Shares of Ingevity stock traded up $0.75 on Wednesday, hitting $77.85. 282,275 shares of the company were exchanged, compared to its average volume of 218,940. The company has a quick ratio of 0.79, a current ratio of 1.33 and a debt-to-equity ratio of 39.10. The company has a 50-day moving average price of $71.14 and a 200 day moving average price of $64.01. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -16.74 and a beta of 1.24. Ingevity has a 1-year low of $36.47 and a 1-year high of $79.29.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NGVT. BMO Capital Markets restated an “outperform” rating and set a $83.00 price target on shares of Ingevity in a research report on Monday, March 2nd. Wells Fargo & Company increased their target price on Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Wall Street Zen downgraded Ingevity from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Jefferies Financial Group reiterated a “buy” rating and set a $82.00 price target on shares of Ingevity in a research report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.00.

Hedge Funds Weigh In On Ingevity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NGVT. Global Retirement Partners LLC purchased a new stake in Ingevity in the 4th quarter valued at $27,000. Meeder Asset Management Inc. purchased a new stake in shares of Ingevity in the fourth quarter valued at about $33,000. Geneos Wealth Management Inc. raised its stake in Ingevity by 85.8% during the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after purchasing an additional 387 shares during the period. Headlands Technologies LLC acquired a new position in Ingevity in the 2nd quarter valued at about $46,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Ingevity in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

About Ingevity

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.