Ingevity (NYSE:NGVT) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $85.71.
NGVT has been the subject of several recent research reports. Loop Capital decreased their price target on Ingevity from $83.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, December 26th. Jefferies Group upped their price target on Ingevity to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. SunTrust Banks reiterated a “buy” rating and set a $90.00 price target on shares of Ingevity in a report on Friday, February 23rd. Zacks Investment Research downgraded Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Buckingham Research upgraded Ingevity from a “neutral” rating to a “buy” rating and upped their price target for the stock from $64.00 to $92.00 in a report on Thursday, March 8th.
A number of hedge funds have recently bought and sold shares of the business. Raymond James & Associates boosted its position in Ingevity by 2.1% in the fourth quarter. Raymond James & Associates now owns 33,116 shares of the company’s stock worth $2,334,000 after purchasing an additional 683 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in Ingevity by 9.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 8,563 shares of the company’s stock worth $603,000 after purchasing an additional 772 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ingevity by 50.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,420 shares of the company’s stock worth $171,000 after purchasing an additional 807 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in Ingevity by 17.5% in the fourth quarter. Meadow Creek Investment Management LLC now owns 5,460 shares of the company’s stock worth $385,000 after purchasing an additional 812 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Ingevity by 1.0% in the third quarter. New York State Common Retirement Fund now owns 81,318 shares of the company’s stock worth $5,080,000 after purchasing an additional 824 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ingevity stock opened at $81.56 on Friday. Ingevity has a 12-month low of $53.62 and a 12-month high of $82.67. The firm has a market cap of $3,448.06, a P/E ratio of 31.76, a P/E/G ratio of 2.04 and a beta of 1.04. The company has a quick ratio of 1.36, a current ratio of 2.41 and a debt-to-equity ratio of 1.60.
Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.09. Ingevity had a return on equity of 50.74% and a net margin of 12.99%. The business had revenue of $229.50 million during the quarter, compared to the consensus estimate of $214.94 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. Ingevity’s revenue was up 8.8% compared to the same quarter last year. equities analysts anticipate that Ingevity will post 3.34 EPS for the current year.
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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.
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