Ingevity (NYSE:NGVT) Hits New 1-Year Low at $74.88

Ingevity Corp (NYSE:NGVT) shares hit a new 52-week low during trading on Friday . The stock traded as low as $74.88 and last traded at $75.06, with a volume of 6394 shares traded. The stock had previously closed at $79.62.

NGVT has been the topic of several recent analyst reports. Berenberg Bank raised Ingevity from a “hold” rating to a “buy” rating and reduced their target price for the stock from $120.00 to $110.00 in a report on Tuesday, May 28th. ValuEngine downgraded Ingevity from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Jefferies Financial Group downgraded Ingevity from a “buy” rating to a “hold” rating and reduced their target price for the stock from $129.00 to $107.00 in a report on Friday, July 19th. Zacks Investment Research raised Ingevity from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Finally, BMO Capital Markets initiated coverage on Ingevity in a report on Thursday, July 18th. They issued an “outperform” rating and a $101.29 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Ingevity presently has a consensus rating of “Hold” and a consensus price target of $108.61.

The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.25 and a current ratio of 2.28. The firm’s 50-day moving average is $92.89 and its two-hundred day moving average is $100.45. The stock has a market cap of $3.17 billion, a P/E ratio of 17.99, a PEG ratio of 1.54 and a beta of 1.96.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.01. Ingevity had a net margin of 14.03% and a return on equity of 54.67%. The firm had revenue of $352.80 million during the quarter, compared to analysts’ expectations of $362.06 million. During the same quarter in the previous year, the company posted $1.12 EPS. Ingevity’s revenue was up 14.3% on a year-over-year basis. As a group, research analysts forecast that Ingevity Corp will post 4.92 EPS for the current year.

A number of hedge funds have recently bought and sold shares of NGVT. Advisory Services Network LLC raised its position in Ingevity by 54.3% in the 2nd quarter. Advisory Services Network LLC now owns 355 shares of the company’s stock worth $37,000 after purchasing an additional 125 shares during the last quarter. Advisors Preferred LLC bought a new position in Ingevity in the 1st quarter worth approximately $76,000. NumerixS Investment Technologies Inc bought a new stake in shares of Ingevity during the 2nd quarter valued at $84,000. Flagship Harbor Advisors LLC raised its position in shares of Ingevity by 29.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,246 shares of the company’s stock valued at $131,000 after acquiring an additional 285 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Ingevity by 5,330.3% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,792 shares of the company’s stock valued at $189,000 after acquiring an additional 1,759 shares during the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.

Ingevity Company Profile (NYSE:NGVT)

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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