Ingevity (NYSE:NGVT) Shares Gap Down – Here’s Why

Ingevity Corporation (NYSE:NGVT)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $73.99, but opened at $69.88. Ingevity shares last traded at $69.4310, with a volume of 10,741 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings raised Ingevity from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, July 31st. Wall Street Zen cut shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ingevity presently has a consensus rating of “Hold” and an average price target of $80.00.

Ingevity Price Performance

The company has a debt-to-equity ratio of 22.52, a current ratio of 1.61 and a quick ratio of 1.15. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 47.61 and a beta of 1.16. The stock has a 50 day moving average price of $73.91 and a two-hundred day moving average price of $71.82.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, July 29th. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.41. The company had revenue of $314.10 million during the quarter, compared to analysts’ expectations of $312.20 million. Ingevity had a return on equity of 284.70% and a net margin of 4.65%.Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. As a group, analysts expect that Ingevity Corporation will post 5.4 EPS for the current year.

Insider Activity

In related news, SVP Terrance M. Dyer sold 496 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $68.49, for a total transaction of $33,971.04. Following the sale, the senior vice president directly owned 7,202 shares of the company’s stock, valued at $493,264.98. This represents a 6.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ryan C. Fisher sold 2,709 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.72, for a total transaction of $199,707.48. Following the sale, the senior vice president owned 15,722 shares in the company, valued at approximately $1,159,025.84. This trade represents a 14.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 18,297 shares of company stock valued at $1,381,452. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. increased its holdings in Ingevity by 9.6% during the 1st quarter. Assetmark Inc. now owns 1,584 shares of the company’s stock worth $113,000 after purchasing an additional 139 shares during the period. Advisory Services Network LLC grew its position in shares of Ingevity by 4.4% during the third quarter. Advisory Services Network LLC now owns 6,947 shares of the company’s stock worth $383,000 after buying an additional 293 shares in the last quarter. Amundi increased its stake in shares of Ingevity by 4.8% during the third quarter. Amundi now owns 6,626 shares of the company’s stock worth $364,000 after buying an additional 302 shares during the period. Isthmus Partners LLC raised its holdings in Ingevity by 0.5% in the fourth quarter. Isthmus Partners LLC now owns 72,245 shares of the company’s stock valued at $4,275,000 after acquiring an additional 375 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after acquiring an additional 387 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

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.