Ingevity Corp (NGVT) Given Consensus Recommendation of “Buy” by Brokerages
Ingevity Corp (NYSE:NGVT) has earned an average recommendation of “Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $79.20.
A number of equities research analysts have recently issued reports on NGVT shares. BidaskClub lowered shares of Ingevity from a “sell” rating to a “strong sell” rating in a research note on Friday, September 15th. Rowe restated an “outperform” rating and issued a $90.00 target price (up previously from $80.00) on shares of Ingevity in a research note on Thursday, November 30th. Jefferies Group upped their target price on shares of Ingevity from $71.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Loop Capital restated a “buy” rating and issued a $80.00 target price (up previously from $76.00) on shares of Ingevity in a research note on Tuesday, November 14th. Finally, Zacks Investment Research lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd.
Shares of Ingevity (NYSE NGVT) opened at $73.16 on Thursday. The stock has a market cap of $3,040.00 and a PE ratio of 32.66. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.36 and a quick ratio of 1.34. Ingevity has a 12 month low of $51.01 and a 12 month high of $80.18.
Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.11. The business had revenue of $264.10 million for the quarter, compared to analyst estimates of $260.88 million. Ingevity had a net margin of 9.86% and a return on equity of 58.14%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. sell-side analysts forecast that Ingevity will post 2.49 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Copper Rock Capital Partners LLC raised its stake in Ingevity by 29.3% during the fourth quarter. Copper Rock Capital Partners LLC now owns 421,298 shares of the company’s stock worth $29,946,000 after acquiring an additional 95,350 shares during the period. Sterling Capital Management LLC raised its stake in Ingevity by 15.8% during the third quarter. Sterling Capital Management LLC now owns 49,847 shares of the company’s stock worth $3,114,000 after acquiring an additional 6,793 shares during the period. Cubist Systematic Strategies LLC raised its stake in Ingevity by 234.8% during the third quarter. Cubist Systematic Strategies LLC now owns 11,831 shares of the company’s stock worth $739,000 after acquiring an additional 8,297 shares during the period. Patten Group Inc. raised its stake in Ingevity by 1,032.8% during the third quarter. Patten Group Inc. now owns 123,235 shares of the company’s stock worth $677,000 after acquiring an additional 112,356 shares during the period. Finally, Highbridge Capital Management LLC acquired a new stake in Ingevity during the third quarter worth about $564,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.
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Ingevity 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.
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