Ingevity Corporation (NYSE:NGVT) has been given an average rating of “Buy” by the seven brokerages that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $78.17.

A number of equities research analysts have issued reports on the company. BidaskClub downgraded Ingevity from a “sell” rating to a “strong sell” rating in a research report on Friday, September 15th. Jefferies Group set a $71.00 price target on Ingevity and gave the company a “buy” rating in a research report on Thursday, August 24th. Rowe reissued an “outperform” rating and set a $90.00 price target (up previously from $80.00) on shares of Ingevity in a research report on Thursday, November 30th. Loop Capital reissued a “buy” rating and set a $76.00 price target on shares of Ingevity in a research report on Wednesday, October 18th. Finally, KeyCorp reissued a “buy” rating and set a $75.00 price target (up previously from $70.00) on shares of Ingevity in a research report on Thursday, October 5th.

A number of hedge funds have recently bought and sold shares of the business. Pacad Investment Ltd. purchased a new stake in shares of Ingevity in the second quarter worth about $183,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ingevity in the second quarter worth about $203,000. Balyasny Asset Management LLC purchased a new stake in shares of Ingevity in the second quarter worth about $213,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Ingevity in the third quarter worth about $216,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Ingevity in the third quarter worth about $218,000. 91.41% of the stock is owned by hedge funds and other institutional investors.

Ingevity (NYSE NGVT) opened at $70.56 on Friday. The company has a market capitalization of $2,953.14, a price-to-earnings ratio of 28.39, a P/E/G ratio of 2.34 and a beta of 1.78. Ingevity has a 12 month low of $51.01 and a 12 month high of $80.18. 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 (NYSE:NGVT) last released its earnings results on Wednesday, November 1st. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.11. The firm had revenue of $264.10 million during the quarter, compared to analyst estimates of $260.88 million. Ingevity had a return on equity of 58.14% and a net margin of 9.86%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. equities analysts predict that Ingevity will post 2.49 EPS for the current fiscal year.

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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.

Analyst Recommendations for Ingevity (NYSE:NGVT)

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