Ingevity Corp (NGVT) Rating Reiterated by KeyCorp
Ingevity Corp (NASDAQ:NGVT)‘s stock had its “buy” rating reissued by KeyCorp in a research report issued on Thursday. They presently have a $75.00 price target on the stock, up from their prior price target of $70.00. KeyCorp’s price target indicates a potential upside of 14.21% from the company’s previous close. KeyCorp also issued estimates for Ingevity Corp’s FY2018 earnings at $2.80 EPS.
Other equities analysts also recently issued research reports about the stock. Jefferies Group LLC set a $68.00 price target on shares of Ingevity Corp and gave the stock a “buy” rating in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Ingevity Corp from a “sell” rating to a “strong sell” rating in a research note on Friday, September 15th. Zacks Investment Research downgraded shares of Ingevity Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Aegis restated a “buy” rating and issued a $67.00 price target on shares of Ingevity Corp in a research note on Tuesday, July 4th. Finally, Loop Capital began coverage on shares of Ingevity Corp in a research note on Thursday, September 28th. They issued a “buy” rating and a $73.00 price target for the company. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Ingevity Corp currently has a consensus rating of “Buy” and a consensus target price of $69.83.
Shares of Ingevity Corp (NASDAQ NGVT) opened at 65.67 on Thursday. Ingevity Corp has a 12 month low of $40.24 and a 12 month high of $66.01. The company has a market cap of $2.77 billion and a PE ratio of 52.45. The firm’s 50-day moving average price is $61.74 and its 200 day moving average price is $61.74.
Ingevity Corp (NASDAQ:NGVT) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.08. The business had revenue of $260.30 million during the quarter, compared to the consensus estimate of $259.56 million. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Ingevity Corp will post $2.41 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. Pacad Investment Ltd. acquired a new position in shares of Ingevity Corp during the second quarter worth $183,000. Envestnet Asset Management Inc. grew its stake in shares of Ingevity Corp by 46.9% during the first quarter. Envestnet Asset Management Inc. now owns 3,500 shares of the company’s stock worth $211,000 after purchasing an additional 1,117 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Ingevity Corp during the second quarter worth $203,000. Balyasny Asset Management LLC acquired a new position in shares of Ingevity Corp during the second quarter worth $213,000. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Ingevity Corp by 5.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,072 shares of the company’s stock worth $234,000 after purchasing an additional 210 shares in the last quarter.
About Ingevity Corp
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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