Ingevity Corporation (NYSE:NGVT) Receives Average Rating of “Hold” from Brokerages

Shares of Ingevity Corporation (NYSE:NGVT) have received an average rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $80.00.

Several brokerages recently issued reports on NGVT. Wells Fargo & Company upped their price target on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Wall Street Zen upgraded Ingevity from a “hold” rating to a “strong-buy” rating in a report on Saturday. Jefferies Financial Group reiterated a “buy” rating and set a $82.00 price target on shares of Ingevity in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a report on Tuesday, April 21st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $83.00 price target on shares of Ingevity in a report on Monday, March 2nd.

Ingevity Trading Down 1.5%

Shares of Ingevity stock opened at $74.52 on Tuesday. The stock has a fifty day simple moving average of $71.40 and a 200 day simple moving average of $64.42. Ingevity has a 12-month low of $39.74 and a 12-month high of $79.29. The company has a market capitalization of $2.59 billion, a P/E ratio of -20.99 and a beta of 1.24. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 27.83.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.31. Ingevity had a positive return on equity of 207.82% and a negative net margin of 10.55%.The business had revenue of $258.00 million during the quarter, compared to the consensus estimate of $254.73 million. During the same quarter in the prior year, the company posted $1.01 earnings per share. Ingevity’s revenue was up 4.1% compared to the same quarter last year. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. On average, sell-side analysts anticipate that Ingevity will post 5.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ingevity

Several institutional investors have recently bought and sold shares of NGVT. Global Retirement Partners LLC purchased a new position in Ingevity in the fourth quarter worth $27,000. Oakworth Capital Inc. purchased a new position in Ingevity in the third quarter worth $28,000. Meeder Asset Management Inc. purchased a new position in Ingevity in the fourth quarter worth $33,000. Kestra Advisory Services LLC purchased a new position in Ingevity in the fourth quarter worth $47,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Ingevity by 85.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after purchasing an additional 387 shares during the period. Institutional investors 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.