Ingevity (NYSE:NGVT) Hits New 1-Year High – What’s Next?

Ingevity Corporation (NYSE:NGVT) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $64.70 and last traded at $65.0050, with a volume of 20893 shares traded. The stock had previously closed at $64.44.

Wall Street Analyst Weigh In

NGVT has been the subject of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a report on Wednesday, October 8th. BMO Capital Markets raised their price objective on Ingevity from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Zacks Research raised shares of Ingevity to a “hold” rating in a research report on Tuesday, December 16th. Wall Street Zen upgraded Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Ingevity from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, December 19th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.00.

Ingevity Stock Performance

The stock’s 50 day moving average price is $55.13 and its two-hundred day moving average price is $53.39. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 8.39. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -36.02 and a beta of 1.36.

Ingevity (NYSE:NGVT) last issued its earnings results on Friday, March 24th. The company reported $0.78 earnings per share (EPS) for the quarter. The company had revenue of $336.00 million during the quarter. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. On average, analysts forecast that Ingevity Corporation will post 4.45 EPS for the current year.

Institutional Trading of Ingevity

Several large investors have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Ingevity by 311.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock valued at $23,769,000 after purchasing an additional 454,579 shares in the last quarter. Simcoe Capital Management LLC grew its holdings in shares of Ingevity by 188.8% during the second quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock worth $26,928,000 after buying an additional 408,508 shares in the last quarter. Boston Partners acquired a new position in shares of Ingevity in the third quarter valued at approximately $14,171,000. American Century Companies Inc. lifted its stake in shares of Ingevity by 15.6% during the second quarter. American Century Companies Inc. now owns 1,707,273 shares of the company’s stock valued at $73,566,000 after buying an additional 230,525 shares during the period. Finally, Harvey Partners LLC lifted its stake in shares of Ingevity by 59.6% during the second quarter. Harvey Partners LLC now owns 572,047 shares of the company’s stock valued at $24,650,000 after buying an additional 213,547 shares during the period. Institutional investors and hedge funds 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.