Ingevity (NYSE:NGVT) Price Target Raised to $60.00

Ingevity (NYSE:NGVT) had its price target hoisted by stock analysts at Wells Fargo & Company from $55.00 to $60.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 0.91% from the stock’s previous close.

NGVT has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Ingevity from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. BMO Capital Markets increased their target price on shares of Ingevity from $64.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Finally, Zacks Research upgraded shares of Ingevity to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ingevity has a consensus rating of “Hold” and a consensus price target of $65.00.

Ingevity Trading Up 2.0%

Shares of NYSE:NGVT opened at $59.46 on Friday. The company has a market cap of $2.14 billion, a PE ratio of -32.62 and a beta of 1.40. The company’s 50-day moving average price is $53.35 and its 200 day moving average price is $51.19. Ingevity has a fifty-two week low of $28.49 and a fifty-two week high of $61.77. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 8.39.

Ingevity (NYSE:NGVT) last announced its quarterly 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 positive return on equity of 103.69% and a negative net margin of 5.14%. Sell-side analysts anticipate that Ingevity will post 4.45 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vision One Management Partners LP boosted its position in Ingevity by 1.6% during the first quarter. Vision One Management Partners LP now owns 417,178 shares of the company’s stock valued at $16,516,000 after buying an additional 6,500 shares during the period. Range Financial Group LLC bought a new stake in Ingevity during the 2nd quarter valued at $1,326,000. Teacher Retirement System of Texas increased its position in shares of Ingevity by 82.1% in the second quarter. Teacher Retirement System of Texas now owns 36,312 shares of the company’s stock valued at $1,565,000 after acquiring an additional 16,366 shares during the period. Nuveen LLC purchased a new stake in shares of Ingevity during the first quarter worth about $4,228,000. Finally, Simcoe Capital Management LLC bought a new position in Ingevity during the 1st quarter valued at approximately $8,568,000. 91.59% of the stock is currently owned by institutional investors.

Ingevity Company Profile

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.