Ingevity Corporation (NYSE:NGVT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Ingevity Corporation (NYSE:NGVT) have been assigned a consensus rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $80.00.

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Ingevity from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a report on Tuesday, April 21st. Wells Fargo & Company increased their price objective on shares of Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. BMO Capital Markets restated an “outperform” rating and set a $83.00 price objective on shares of Ingevity in a research note on Monday, March 2nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $82.00 price objective on shares of Ingevity in a research note on Thursday, February 26th.

Ingevity Stock Performance

NGVT stock opened at $67.50 on Tuesday. The company has a debt-to-equity ratio of 27.83, a current ratio of 1.42 and a quick ratio of 0.92. The company has a 50 day moving average price of $71.36 and a 200 day moving average price of $64.75. Ingevity has a fifty-two week low of $39.74 and a fifty-two week high of $79.29. The stock has a market capitalization of $2.35 billion, a PE ratio of -19.01 and a beta of 1.24.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.31. The firm had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $254.73 million. Ingevity had a negative net margin of 10.55% and a positive return on equity of 207.82%. Ingevity’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 EPS. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Analysts forecast that Ingevity will post 5.05 EPS for the current year.

Hedge Funds Weigh In On Ingevity

Large investors have recently modified their holdings of the business. Allianz Asset Management GmbH acquired a new stake in Ingevity in the 3rd quarter valued at about $1,670,000. CWA Asset Management Group LLC acquired a new stake in Ingevity in the 4th quarter valued at about $1,305,000. Harvey Partners LLC lifted its stake in Ingevity by 5.1% in the 3rd quarter. Harvey Partners LLC now owns 601,000 shares of the company’s stock valued at $33,169,000 after purchasing an additional 28,953 shares during the last quarter. Alpha Wave Global LP acquired a new stake in Ingevity in the 3rd quarter valued at about $8,395,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Ingevity in the 4th quarter valued at about $8,083,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.