Ingevity (NYSE:NGVT) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Ingevity (NYSE:NGVT) from a buy rating to a hold rating in a research note released on Saturday.

NGVT has been the subject of several other research reports. Zacks Research upgraded shares of Ingevity to a “hold” rating in a report on Tuesday, December 16th. Wells Fargo & Company boosted their price target on shares of Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a report on Thursday, January 22nd. BMO Capital Markets restated an “outperform” rating and issued a $83.00 price target on shares of Ingevity in a report on Monday, March 2nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $82.00 price target on shares of Ingevity in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.00.

Ingevity Stock Down 0.6%

Shares of NYSE NGVT opened at $70.64 on Friday. The company has a debt-to-equity ratio of 39.10, a quick ratio of 0.79 and a current ratio of 1.33. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -15.19 and a beta of 1.27. The stock has a 50 day moving average price of $69.76 and a 200 day moving average price of $61.18. Ingevity has a 52-week low of $28.49 and a 52-week high of $77.46.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). The firm had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $257.27 million. Ingevity had a negative net margin of 13.51% and a positive return on equity of 126.25%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Sell-side analysts expect that Ingevity will post 4.45 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

Large investors have recently modified their holdings of the business. Global Retirement Partners LLC bought a new position in shares of Ingevity during the 4th quarter worth approximately $27,000. Oakworth Capital Inc. bought a new position in shares of Ingevity during the 3rd quarter worth approximately $28,000. Meeder Asset Management Inc. bought a new position in shares of Ingevity during the 4th quarter worth approximately $33,000. Kestra Advisory Services LLC bought a new position in shares of Ingevity during the 4th quarter worth approximately $47,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Ingevity by 85.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after acquiring an additional 387 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Ingevity Company Profile

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.