Brokerages Set Ingevity (NGVT) Target Price at $86.38

Shares of Ingevity (NYSE:NGVT) have received an average recommendation of “Buy” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $86.38.

NGVT has been the subject of a number of recent research reports. KeyCorp reiterated an “overweight” rating and set a $89.00 price objective (up from $78.00) on shares of Ingevity in a research note on Friday, February 23rd. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “strong-buy” rating and set a $89.00 price target for the company in a research note on Saturday, February 24th. SunTrust Banks restated a “buy” rating and issued a $90.00 price target on shares of Ingevity in a research note on Friday, February 23rd. Loop Capital downgraded Ingevity from a “buy” rating to a “hold” rating and set a $80.00 price target for the company. in a research note on Tuesday, February 27th. Finally, Jefferies Group upped their price target on Ingevity to $92.00 and gave the stock a “buy” rating in a research note on Thursday, March 8th.

Shares of Ingevity opened at $84.03 on Wednesday, Marketbeat.com reports. The company has a market cap of $3.52 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.03 and a beta of 1.04. The company has a quick ratio of 1.39, a current ratio of 2.67 and a debt-to-equity ratio of 2.34. Ingevity has a 12-month low of $53.62 and a 12-month high of $84.69.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.16. The company had revenue of $235.20 million during the quarter, compared to the consensus estimate of $231.76 million. Ingevity had a return on equity of 48.09% and a net margin of 13.96%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. sell-side analysts expect that Ingevity will post 3.44 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of NGVT. BlackRock Inc. boosted its stake in Ingevity by 4.9% in the 4th quarter. BlackRock Inc. now owns 5,415,950 shares of the company’s stock worth $381,661,000 after purchasing an additional 253,722 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Ingevity by 150.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 381,760 shares of the company’s stock worth $26,902,000 after acquiring an additional 229,540 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Ingevity by 269.9% during the 4th quarter. Two Sigma Investments LP now owns 239,239 shares of the company’s stock worth $16,859,000 after acquiring an additional 174,555 shares in the last quarter. Palisade Capital Management LLC NJ raised its holdings in shares of Ingevity by 96.7% during the 1st quarter. Palisade Capital Management LLC NJ now owns 340,078 shares of the company’s stock worth $25,060,000 after acquiring an additional 167,198 shares in the last quarter. Finally, WINTON GROUP Ltd raised its holdings in shares of Ingevity by 194.7% during the 4th quarter. WINTON GROUP Ltd now owns 193,082 shares of the company’s stock worth $13,606,000 after acquiring an additional 127,554 shares in the last quarter. Institutional investors and hedge funds own 92.79% 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 wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

Analyst Recommendations for Ingevity (NYSE:NGVT)

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