Ingevity (NYSE:NGVT) PT Raised to $56.00 at Loop Capital

Ingevity (NYSE:NGVT) had its target price boosted by stock analysts at Loop Capital from $49.00 to $56.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Loop Capital’s price objective would indicate a potential upside of 3.70% from the stock’s current price.

A number of other equities research analysts also recently issued reports on NGVT. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $62.00 in a research report on Monday, April 22nd. Oppenheimer upped their price target on Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company raised their price objective on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Ingevity Stock Up 0.5 %

Ingevity stock opened at $54.00 on Tuesday. The stock has a market cap of $1.96 billion, a PE ratio of -17.36 and a beta of 1.79. 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 stock has a fifty day moving average of $47.42 and a 200 day moving average of $44.45. Ingevity has a one year low of $36.66 and a one year high of $66.18.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.15. The firm had revenue of $340.10 million for the quarter, compared to analysts’ expectations of $319.15 million. Ingevity had a negative net margin of 6.84% and a positive return on equity of 18.65%. The business’s quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 EPS. As a group, sell-side analysts predict that Ingevity will post 3.78 EPS for the current year.

Hedge Funds Weigh In On Ingevity

A number of hedge funds have recently made changes to their positions in NGVT. Raymond James & Associates lifted its holdings in Ingevity by 1.1% in the 3rd quarter. Raymond James & Associates now owns 46,519 shares of the company’s stock worth $2,215,000 after purchasing an additional 516 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ingevity by 15.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,733 shares of the company’s stock worth $368,000 after buying an additional 1,061 shares in the last quarter. Inspire Investing LLC boosted its position in shares of Ingevity by 20.5% during the third quarter. Inspire Investing LLC now owns 6,475 shares of the company’s stock worth $308,000 after acquiring an additional 1,101 shares during the last quarter. Roubaix Capital LLC purchased a new position in Ingevity during the third quarter valued at $2,425,000. Finally, Patten & Patten Inc. TN grew its stake in Ingevity by 12.2% during the third quarter. Patten & Patten Inc. TN now owns 148,971 shares of the company’s stock valued at $7,093,000 after acquiring an additional 16,146 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

About Ingevity

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.