Ingevity (NYSE:NGVT) Hits New 12-Month Low at $33.73

Ingevity Co. (NYSE:NGVT) shares reached a new 52-week low on Monday . The stock traded as low as $33.73 and last traded at $33.76, with a volume of 101923 shares. The stock had previously closed at $35.61.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Loop Capital upped their target price on Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $62.00 in a report on Monday, April 22nd. BMO Capital Markets dropped their price target on Ingevity from $45.00 to $42.00 and set a “market perform” rating on the stock in a research note on Monday, August 5th. Finally, Oppenheimer reduced their price objective on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingevity currently has an average rating of “Hold” and a consensus target price of $51.33.

Ingevity Trading Down 2.9 %

The business has a 50 day moving average of $43.75 and a two-hundred day moving average of $46.23. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -11.12 and a beta of 1.66. The company has a debt-to-equity ratio of 4.92, a quick ratio of 0.98 and a current ratio of 1.92.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Ingevity had a positive return on equity of 19.59% and a negative net margin of 27.85%. The firm had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. During the same period in the previous year, the company earned $1.41 earnings per share. Ingevity’s revenue for the quarter was down 18.9% compared to the same quarter last year. Equities analysts predict that Ingevity Co. will post 3.47 EPS for the current year.

Hedge Funds Weigh In On Ingevity

Several large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its holdings in shares of Ingevity by 809.2% in the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock valued at $26,000 after purchasing an additional 526 shares during the last quarter. Isthmus Partners LLC bought a new position in shares of Ingevity during the 2nd quarter worth approximately $35,000. TFO Wealth Partners LLC boosted its stake in shares of Ingevity by 40,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock worth $39,000 after buying an additional 815 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Ingevity in the fourth quarter valued at approximately $41,000. Finally, Blue Trust Inc. grew its holdings in shares of Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after acquiring an additional 452 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

About Ingevity

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.