Ingevity (NYSE:NGVT) Sets New 12-Month High After Better-Than-Expected Earnings

Ingevity Corporation (NYSE:NGVT) shares hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $79.22 and last traded at $78.80, with a volume of 14174 shares trading hands. The stock had previously closed at $77.10.

The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.31. Ingevity had a negative net margin of 10.55% and a positive return on equity of 176.88%. The business had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $254.73 million. During the same period in the prior year, the company earned $1.01 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS.

Analyst Ratings Changes

NGVT has been the topic of several analyst reports. Wells Fargo & Company boosted 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 report on Saturday, April 4th. BMO Capital Markets reissued an “outperform” rating and issued a $83.00 price objective on shares of Ingevity in a research note on Monday, March 2nd. Jefferies Financial Group restated a “buy” rating and set a $82.00 price objective on shares of Ingevity in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $80.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NGVT. Global Retirement Partners LLC purchased a new stake in shares of Ingevity during the 4th quarter worth $27,000. Oakworth Capital Inc. purchased a new position in shares of Ingevity in the 3rd quarter valued at about $28,000. Meeder Asset Management Inc. purchased a new position in shares of Ingevity in the 4th quarter valued at about $33,000. Geneos Wealth Management Inc. lifted its stake in shares of Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after purchasing an additional 387 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Ingevity during the second quarter worth about $46,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Up 2.2%

The company has a debt-to-equity ratio of 39.10, a current ratio of 1.33 and a quick ratio of 0.79. The firm’s 50-day simple moving average is $71.20 and its two-hundred day simple moving average is $64.15. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -21.33 and a beta of 1.24.

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.