Ingevity Corporation (NYSE:NGVT) Stock Rated “Hold” by Sell-Side Brokerages

Ingevity Corporation (NYSE:NGVT) has received a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $80.00.

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings cut Ingevity from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 23rd.

Insider Transactions at Ingevity

In other Ingevity news, CEO David Li sold 5,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $75.83, for a total transaction of $379,150.00. Following the completion of the transaction, the chief executive officer owned 120,636 shares in the company, valued at $9,147,827.88. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,092 shares of company stock worth $1,147,773 over the last quarter. 0.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Ingevity during the 2nd quarter valued at about $400,545,000. Rice Hall James & Associates LLC purchased a new position in shares of Ingevity in the second quarter valued at approximately $26,224,000. Bank of America Corp DE purchased a new stake in shares of Ingevity during the second quarter worth approximately $23,628,000. Bessemer Group Inc. raised its stake in Ingevity by 465.9% in the 1st quarter. Bessemer Group Inc. now owns 314,739 shares of the company’s stock valued at $22,419,000 after purchasing an additional 259,124 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Ingevity by 331.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 308,046 shares of the company’s stock valued at $21,942,000 after purchasing an additional 236,566 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Ingevity Trading Down 5.7%

Shares of NGVT opened at $60.05 on Tuesday. The firm has a market cap of $2.06 billion, a P/E ratio of 35.33 and a beta of 1.12. The company has a debt-to-equity ratio of 15.70, a current ratio of 1.48 and a quick ratio of 1.15. Ingevity has a 1 year low of $45.85 and a 1 year high of $79.29. The company has a 50 day simple moving average of $70.39 and a two-hundred day simple moving average of $71.24.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, November 4th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.56 by $0.07. Ingevity had a net margin of 5.28% and a return on equity of 405.38%. The firm had revenue of $305.10 million for the quarter, compared to the consensus estimate of $303.91 million. On average, equities analysts expect that Ingevity will post 5.40 earnings per share for the current fiscal year.

Ingevity Company Profile

Ingevity Corporation (NYSE: NGVT) is a specialty chemicals and materials company that develops products designed to improve performance, efficiency, and sustainability across a range of industrial and consumer applications. Its offerings serve markets including automotive, transportation, agriculture, coatings, adhesives, pavement markings, and industrial manufacturing.

The company is best known for activated carbon products used in automotive vapor-emission control systems, where they help capture fuel vapors and reduce emissions.