Wells Fargo & Company Issues Positive Forecast for Ingevity (NYSE:NGVT) Stock Price

Ingevity (NYSE:NGVT) had its price target lifted by Wells Fargo & Company from $65.00 to $75.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 6.39% from the stock’s current price.

A number of other analysts have also recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Zacks Research raised shares of Ingevity to a “hold” rating in a research note on Tuesday, December 16th. BMO Capital Markets lifted their target price on shares of Ingevity from $64.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Wall Street Zen downgraded Ingevity from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $82.00 target price on shares of Ingevity in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.67.

Ingevity Stock Down 0.0%

Ingevity stock traded down $0.03 during mid-day trading on Friday, hitting $70.49. The company had a trading volume of 134,561 shares, compared to its average volume of 308,710. Ingevity has a 12 month low of $28.49 and a 12 month high of $77.46. The company has a market capitalization of $2.54 billion, a PE ratio of -15.17 and a beta of 1.34. The stock’s 50 day moving average price is $66.96 and its two-hundred day moving average price is $58.99. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 8.39.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.16). Ingevity had a positive return on equity of 100.39% and a negative net margin of 13.51%.The firm had revenue of $255.10 million during the quarter, compared to the consensus estimate of $257.27 million. During the same quarter in the prior year, the company posted $0.95 EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. As a group, sell-side analysts anticipate that Ingevity will post 4.45 earnings per share for the current fiscal year.

Institutional Trading of Ingevity

Several hedge funds have recently modified their holdings of the company. Amalgamated Bank raised its stake in shares of Ingevity by 1.7% in the third quarter. Amalgamated Bank now owns 10,593 shares of the company’s stock valued at $585,000 after acquiring an additional 180 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Ingevity by 3.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,823 shares of the company’s stock valued at $418,000 after purchasing an additional 238 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Ingevity by 15.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,870 shares of the company’s stock valued at $103,000 after purchasing an additional 254 shares during the last quarter. Advisory Services Network LLC boosted its stake in Ingevity by 4.4% in the third quarter. Advisory Services Network LLC now owns 6,947 shares of the company’s stock worth $383,000 after purchasing an additional 293 shares in the last quarter. Finally, Amundi boosted its stake in Ingevity by 4.8% in the third quarter. Amundi now owns 6,626 shares of the company’s stock worth $364,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Company Profile

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.