Ingevity (NGVT) Hits New 12-Month High and Low at $83.21

Ingevity (NYSE:NGVT)’s share price reached a new 52-week high and low during trading on Wednesday . The stock traded as low as $83.21 and last traded at $82.86, with a volume of 4741 shares trading hands. The stock had previously closed at $81.40.

Several research firms have commented on NGVT. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Thursday, May 10th. Oppenheimer reiterated a “buy” rating on shares of Ingevity in a research report on Wednesday, May 9th. KeyCorp increased their target price on Ingevity from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, May 4th. Loop Capital downgraded Ingevity from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a research report on Tuesday, February 27th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $90.00 target price on shares of Ingevity in a research report on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.78.

The company has a market cap of $3.49 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 2.01 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 (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, May 2nd. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.16. The company had revenue of $235.20 million during the quarter, compared to analysts’ expectations of $231.76 million. Ingevity had a return on equity of 48.09% and a net margin of 13.96%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. equities research analysts anticipate that Ingevity will post 3.44 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of NGVT. BlackRock Inc. increased its stake in shares of Ingevity by 4.9% in the fourth quarter. BlackRock Inc. now owns 5,415,950 shares of the company’s stock valued at $381,661,000 after buying an additional 253,722 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Ingevity by 150.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 381,760 shares of the company’s stock valued at $26,902,000 after buying an additional 229,540 shares during the period. Two Sigma Investments LP increased its stake in shares of Ingevity by 269.9% in the fourth quarter. Two Sigma Investments LP now owns 239,239 shares of the company’s stock valued at $16,859,000 after buying an additional 174,555 shares during the period. Palisade Capital Management LLC NJ increased its stake in shares of Ingevity by 96.7% in the first quarter. Palisade Capital Management LLC NJ now owns 340,078 shares of the company’s stock valued at $25,060,000 after buying an additional 167,198 shares during the period. Finally, WINTON GROUP Ltd increased its stake in shares of Ingevity by 194.7% in the fourth quarter. WINTON GROUP Ltd now owns 193,082 shares of the company’s stock valued at $13,606,000 after buying an additional 127,554 shares during the period. 92.79% of the stock is owned by institutional investors.

Ingevity Company Profile

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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