Jefferies Financial Group downgraded shares of Ingevity (NYSE:NGVT) from a buy rating to a hold rating in a research report released on Friday, BenzingaRatingsTable reports. The brokerage currently has $107.00 price target on the stock, down from their previous price target of $129.00.

Several other brokerages also recently issued reports on NGVT. BMO Capital Markets lowered their price objective on shares of Comerica to $78.00 and set a market perform rating for the company in a research report on Thursday, July 18th. Oppenheimer initiated coverage on shares of Focus Financial Partners in a research report on Monday, April 8th. They set an outperform rating and a $48.00 price objective for the company. Zacks Investment Research downgraded shares of Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a research report on Thursday, May 9th. Berenberg Bank reissued a buy rating and set a GBX 3,050 ($39.85) price objective on shares of Cranswick in a research report on Tuesday, May 28th. Finally, ValuEngine raised shares of Yirendai from a strong sell rating to a sell rating in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $107.81.

Shares of NGVT stock opened at $99.84 on Friday. The stock’s fifty day moving average is $97.87. The company has a debt-to-equity ratio of 4.03, a current ratio of 2.29 and a quick ratio of 1.14. Ingevity has a 12-month low of $74.98 and a 12-month high of $120.41. The company has a market capitalization of $4.24 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.73 and a beta of 1.97.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.02. Ingevity had a net margin of 13.70% and a return on equity of 53.81%. The company had revenue of $276.80 million during the quarter, compared to the consensus estimate of $288.07 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts predict that Ingevity will post 4.86 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC bought a new position in Ingevity in the first quarter valued at $76,000. Flagship Harbor Advisors LLC grew its position in Ingevity by 29.7% in the second quarter. Flagship Harbor Advisors LLC now owns 1,246 shares of the company’s stock valued at $131,000 after purchasing an additional 285 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Ingevity by 5,330.3% in the first quarter. Rockefeller Capital Management L.P. now owns 1,792 shares of the company’s stock valued at $189,000 after purchasing an additional 1,759 shares in the last quarter. Starr International Co. Inc. bought a new position in Ingevity in the first quarter valued at $193,000. Finally, ETF Managers Group LLC grew its position in Ingevity by 8.3% in the first quarter. ETF Managers Group LLC now owns 1,941 shares of the company’s stock valued at $205,000 after purchasing an additional 148 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

About Ingevity

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Analyst Recommendations for Ingevity (NYSE:NGVT)

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