Ingevity (NYSE:NGVT) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen lowered shares of Ingevity (NYSE:NGVT) from a strong-buy rating to a buy rating in a research note published on Monday morning.

Several other equities analysts also recently commented on NGVT. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $82.00 price target on shares of Ingevity in a research report on Thursday, February 26th. BMO Capital Markets reiterated an “outperform” rating and set a $83.00 price target on shares of Ingevity in a research note on Monday, March 2nd. Zacks Research raised Ingevity to a “hold” rating in a report on Tuesday, December 16th. Finally, Wells Fargo & Company raised their price objective on Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $80.00.

Ingevity Price Performance

NYSE NGVT opened at $66.10 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.33 and a debt-to-equity ratio of 39.10. The stock has a market capitalization of $2.33 billion, a PE ratio of -14.22 and a beta of 1.31. Ingevity has a 12-month low of $28.49 and a 12-month high of $77.46. The company has a 50 day moving average price of $68.26 and a two-hundred day moving average price of $59.76.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.16). The business had revenue of $255.10 million for the quarter, compared to analyst estimates of $257.27 million. Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 EPS. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. As a group, equities analysts predict that Ingevity will post 4.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in Ingevity during the fourth quarter valued at about $27,000. Oakworth Capital Inc. bought a new position in shares of Ingevity in the third quarter worth about $28,000. Meeder Asset Management Inc. bought a new position in shares of Ingevity in the fourth quarter worth about $33,000. Geneos Wealth Management Inc. lifted its position 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 purchasing an additional 387 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Ingevity during the 2nd quarter worth about $46,000. Institutional investors own 91.59% of the company’s stock.

About Ingevity

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.