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

Ingevity Corporation (NYSE:NGVT) has received an average rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $80.00.

A number of equities research analysts have weighed in on NGVT shares. Wells Fargo & Company boosted their target price on shares of Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Jefferies Financial Group restated a “buy” rating and issued a $82.00 price objective on shares of Ingevity in a research note on Thursday, February 26th. Wall Street Zen lowered Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a research note on Thursday, January 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $83.00 price objective on shares of Ingevity in a research note on Monday, March 2nd.

Ingevity Price Performance

Shares of NYSE NGVT opened at $73.69 on Friday. Ingevity has a twelve month low of $30.19 and a twelve month high of $77.46. The firm has a market cap of $2.60 billion, a P/E ratio of -15.85 and a beta of 1.27. The company has a 50 day moving average of $70.76 and a 200 day moving average of $62.14. The company has a quick ratio of 0.79, a current ratio of 1.33 and a debt-to-equity ratio of 39.10.

Ingevity (NYSE:NGVT) last announced 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). The company had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $257.27 million. Ingevity had a negative net margin of 13.51% and a positive return on equity of 126.25%. Ingevity’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. As a group, research analysts expect that Ingevity will post 4.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Ingevity

Several hedge funds and other institutional investors have recently modified their holdings of NGVT. Global Retirement Partners LLC bought a new position in Ingevity in the 4th quarter worth $27,000. Oakworth Capital Inc. bought a new position in Ingevity in the 3rd quarter worth $28,000. Meeder Asset Management Inc. bought a new position in Ingevity in the 4th quarter worth $33,000. Geneos Wealth Management Inc. boosted its holdings in Ingevity by 85.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after buying an additional 387 shares during the period. Finally, Headlands Technologies LLC bought a new position in Ingevity in the 2nd 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.