Ingevity (NYSE:NGVT) Hits New 1-Year High – Should You Buy?

Shares of Ingevity Corporation (NYSE:NGVT) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $77.62 and last traded at $76.46, with a volume of 68391 shares traded. The stock had previously closed at $75.26.

Analyst Ratings Changes

NGVT has been the topic of several research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $82.00 target price on shares of Ingevity in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a report on Tuesday. Wells Fargo & Company boosted their price objective on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Wall Street Zen cut Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $83.00 price objective on shares of Ingevity in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ingevity currently has a consensus rating of “Hold” and an average price target of $80.00.

Ingevity Stock Performance

The firm has a 50 day moving average of $70.88 and a 200-day moving average of $62.83. The company has a quick ratio of 0.79, a current ratio of 1.33 and a debt-to-equity ratio of 39.10. The company has a market cap of $2.70 billion, a P/E ratio of -16.43 and a beta of 1.27.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The company had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $257.27 million. During the same quarter in the prior year, the company earned $0.95 EPS. The firm’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 Corporation will post 5.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in Ingevity in the 4th quarter worth about $27,000. Oakworth Capital Inc. acquired a new position in Ingevity in the third quarter valued at approximately $28,000. Meeder Asset Management Inc. acquired a new position in Ingevity in the fourth quarter valued at approximately $33,000. Geneos Wealth Management Inc. lifted its holdings in Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after acquiring an additional 387 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Ingevity during the second quarter worth $46,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.