Loop Capital began coverage on shares of Ingevity Corp (NASDAQ:NGVT) in a research note released on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $73.00 price objective on the stock.

A number of other equities analysts have also issued reports on the company. Jefferies Group LLC set a $71.00 price objective on Ingevity Corp and gave the stock a buy rating in a report on Thursday, August 24th. Zacks Investment Research lowered Ingevity Corp from a buy rating to a hold rating in a report on Saturday, July 8th. Aegis reissued a buy rating and issued a $67.00 price objective on shares of Ingevity Corp in a report on Tuesday, July 4th. BidaskClub lowered Ingevity Corp from a sell rating to a strong sell rating in a report on Friday, September 15th. Finally, KeyCorp reissued a buy rating and issued a $70.00 price objective on shares of Ingevity Corp in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $67.50.

Ingevity Corp (NASDAQ NGVT) traded down 0.05% during mid-day trading on Thursday, hitting $62.47. The stock had a trading volume of 264,092 shares. Ingevity Corp has a 12-month low of $40.24 and a 12-month high of $63.65. The company has a 50-day moving average of $59.86 and a 200-day moving average of $59.86. The stock has a market cap of $2.63 billion and a price-to-earnings ratio of 49.90.

Ingevity Corp (NASDAQ:NGVT) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.08. Ingevity Corp had a return on equity of 76.78% and a net margin of 13.75%. The business had revenue of $260.30 million during the quarter, compared to analyst estimates of $259.56 million. Ingevity Corp’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Ingevity Corp will post $2.40 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Ingevity Corp (NGVT) Earns Buy Rating from Analysts at Loop Capital” was posted by Watch List News and is the property of of Watch List News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.watchlistnews.com/ingevity-corp-ngvt-earns-buy-rating-from-analysts-at-loop-capital/1600999.html.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in Ingevity Corp by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,716 shares of the company’s stock valued at $270,000 after purchasing an additional 21 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in Ingevity Corp by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,548 shares of the company’s stock valued at $318,000 after purchasing an additional 57 shares in the last quarter. Virginia Retirement Systems ET AL boosted its stake in Ingevity Corp by 2.3% during the 1st quarter. Virginia Retirement Systems ET AL now owns 4,466 shares of the company’s stock valued at $272,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System boosted its stake in Ingevity Corp by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 22,000 shares of the company’s stock valued at $1,263,000 after purchasing an additional 100 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Ingevity Corp by 1.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,620 shares of the company’s stock valued at $585,000 after purchasing an additional 160 shares in the last quarter.

Ingevity Corp Company Profile

Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.

Analyst Recommendations for Ingevity Corp (NASDAQ:NGVT)

Receive News & Ratings for Ingevity Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingevity Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.