Ingevity (NYSE:NGVT) had its price target raised by Oppenheimer from $110.00 to $130.00 in a research note released on Monday, The Fly reports. They currently have an outperform rating on the stock. Oppenheimer also issued estimates for Ingevity’s Q1 2019 earnings at $1.01 EPS, Q4 2019 earnings at $1.02 EPS, FY2019 earnings at $4.83 EPS and FY2020 earnings at $5.74 EPS.

NGVT has been the topic of a number of other reports. Stifel Nicolaus started coverage on shares of Ingevity in a report on Monday, December 10th. They set a hold rating and a $84.00 target price on the stock. Zacks Investment Research lowered shares of Ingevity from a buy rating to a hold rating in a report on Tuesday, February 5th. Loop Capital set a $95.00 target price on shares of Ingevity and gave the stock a hold rating in a report on Thursday, December 13th. ValuEngine lowered shares of Ingevity from a buy rating to a hold rating in a report on Friday, March 15th. Finally, Jefferies Financial Group set a $68.00 target price on shares of Ingevity and gave the stock a buy rating in a report on Thursday, December 20th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $102.44.

Shares of Ingevity stock opened at $113.60 on Monday. The company has a market cap of $4.70 billion, a P/E ratio of 27.51, a P/E/G ratio of 1.93 and a beta of 1.61. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.26 and a current ratio of 2.31. Ingevity has a 1 year low of $74.68 and a 1 year high of $120.41.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, February 13th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.29. The company had revenue of $278.60 million for the quarter, compared to analyst estimates of $265.60 million. Ingevity had a net margin of 14.92% and a return on equity of 53.18%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. Equities research analysts forecast that Ingevity will post 4.86 EPS for the current year.

In other news, EVP Katherine Pryor Burgeson sold 4,400 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $114.76, for a total value of $504,944.00. Following the transaction, the executive vice president now owns 8,801 shares in the company, valued at approximately $1,010,002.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Phillip John Platt sold 2,725 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $114.07, for a total transaction of $310,840.75. Following the completion of the transaction, the chief accounting officer now owns 1,137 shares in the company, valued at approximately $129,697.59. The disclosure for this sale can be found here. Insiders sold a total of 25,125 shares of company stock worth $2,876,065 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Ingevity in the 4th quarter worth approximately $25,000. Signaturefd LLC lifted its position in shares of Ingevity by 211.9% during the 3rd quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock valued at $150,000 after acquiring an additional 1,000 shares during the period. ETF Managers Group LLC lifted its position in shares of Ingevity by 17.4% during the 4th quarter. ETF Managers Group LLC now owns 1,793 shares of the company’s stock valued at $150,000 after acquiring an additional 266 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Ingevity during the 4th quarter valued at $177,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Ingevity during the 3rd quarter valued at $205,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

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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