Ingevity Corp (NGVT) Upgraded to “Buy” by BidaskClub
BidaskClub upgraded shares of Ingevity Corp (NASDAQ:NGVT) from a hold rating to a buy rating in a research report report published on Saturday morning.
Several other equities analysts have also issued reports on NGVT. Zacks Investment Research raised shares of Ingevity Corp from a sell rating to a hold rating in a report on Tuesday, August 8th. Jefferies Group LLC boosted their price target on shares of Ingevity Corp from $71.00 to $84.00 and gave the company a buy rating in a report on Friday. Loop Capital began coverage on shares of Ingevity Corp in a report on Thursday, September 28th. They issued a buy rating and a $73.00 price target for the company. Finally, KeyCorp reissued a buy rating and issued a $75.00 price target (up previously from $70.00) on shares of Ingevity Corp in a report on Thursday, October 5th. Seven equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and an average price target of $72.50.
Ingevity Corp (NASDAQ:NGVT) traded up $2.71 on Friday, reaching $75.49. 359,790 shares of the company’s stock were exchanged, compared to its average volume of 227,017. Ingevity Corp has a 12-month low of $43.77 and a 12-month high of $75.60.
Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.11. Ingevity Corp had a net margin of 13.75% and a return on equity of 76.78%. The company had revenue of $264.10 million during the quarter, compared to analyst estimates of $260.88 million. During the same quarter in the previous year, the business earned $0.64 EPS. The firm’s revenue was up 4.6% on a year-over-year basis.
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A number of hedge funds and other institutional investors have recently made changes to their positions in NGVT. Pacad Investment Ltd. acquired a new position in Ingevity Corp in the 2nd quarter worth $183,000. Cubist Systematic Strategies LLC acquired a new position in Ingevity Corp in the 2nd quarter worth $203,000. Balyasny Asset Management LLC acquired a new position in Ingevity Corp in the 2nd quarter worth $213,000. Flagship Harbor Advisors LLC acquired a new position in Ingevity Corp in the 3rd quarter worth $216,000. Finally, Breton Hill Capital Ltd. acquired a new position in Ingevity Corp in the 2nd quarter worth $234,000.
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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