Ingevity (NYSE:NGVT) Price Target Increased to $58.00 by Analysts at Oppenheimer

Ingevity (NYSE:NGVT) had its price objective increased by Oppenheimer from $50.00 to $58.00 in a research note published on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on NGVT. Jefferies Financial Group upgraded Ingevity from a hold rating to a buy rating and boosted their price target for the company from $52.00 to $62.00 in a report on Monday, April 22nd. Wells Fargo & Company increased their target price on Ingevity from $43.00 to $50.00 and gave the stock an equal weight rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $52.50.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $53.56 on Thursday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.98 and a current ratio of 1.90. The business’s fifty day moving average price is $46.99 and its two-hundred day moving average price is $44.19. The stock has a market cap of $1.95 billion, a PE ratio of -17.22 and a beta of 1.79. Ingevity has a one year low of $36.66 and a one year high of $68.11.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. The firm had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $319.15 million. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. On average, analysts forecast that Ingevity will post 3.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Ingevity

Several large investors have recently made changes to their positions in the business. Jennison Associates LLC grew its position in Ingevity by 1.3% in the fourth quarter. Jennison Associates LLC now owns 19,588 shares of the company’s stock valued at $925,000 after acquiring an additional 249 shares in the last quarter. First Hawaiian Bank lifted its holdings in Ingevity by 2.5% in the 4th quarter. First Hawaiian Bank now owns 10,160 shares of the company’s stock worth $480,000 after buying an additional 250 shares in the last quarter. Savant Capital LLC boosted its position in Ingevity by 0.4% in the 4th quarter. Savant Capital LLC now owns 84,327 shares of the company’s stock valued at $3,982,000 after buying an additional 342 shares during the last quarter. Raymond James & Associates boosted its position in Ingevity by 1.1% in the 3rd quarter. Raymond James & Associates now owns 46,519 shares of the company’s stock valued at $2,215,000 after buying an additional 516 shares during the last quarter. Finally, Pathstone Family Office LLC grew its stake in shares of Ingevity by 22.1% during the third quarter. Pathstone Family Office LLC now owns 4,430 shares of the company’s stock valued at $211,000 after acquiring an additional 803 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Company Profile

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.