Ingevity (NYSE:NGVT) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Ingevity (NYSE:NGVT) from a hold rating to a buy rating in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have $62.00 target price on the stock, up from their prior target price of $52.00.

Separately, Wells Fargo & Company upped their price objective 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Ingevity presently has an average rating of Hold and an average target price of $51.40.

Ingevity Trading Down 0.7 %

NGVT opened at $47.87 on Monday. Ingevity has a 12 month low of $36.66 and a 12 month high of $72.76. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -217.59 and a beta of 1.85. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.81 and a quick ratio of 0.96. The business has a fifty day moving average price of $46.40 and a 200 day moving average price of $43.69.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, February 21st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.34. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. The firm had revenue of $371.70 million during the quarter, compared to analysts’ expectations of $336.74 million. During the same period in the previous year, the firm posted $0.57 EPS. Ingevity’s revenue for the quarter was down 3.1% on a year-over-year basis. Sell-side analysts expect that Ingevity will post 3.69 earnings per share for the current fiscal year.

Institutional Trading of Ingevity

Several institutional investors and hedge funds have recently made changes to their positions in NGVT. New Mexico Educational Retirement Board purchased a new stake in Ingevity during the 1st quarter valued at approximately $401,000. Salem Investment Counselors Inc. raised its stake in Ingevity by 17.2% during the 1st quarter. Salem Investment Counselors Inc. now owns 102,398 shares of the company’s stock valued at $4,884,000 after acquiring an additional 15,000 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in Ingevity during the 1st quarter valued at approximately $1,028,000. Quadrature Capital Ltd raised its stake in Ingevity by 134.9% during the 4th quarter. Quadrature Capital Ltd now owns 22,227 shares of the company’s stock valued at $1,050,000 after acquiring an additional 12,763 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Ingevity by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 3,743,322 shares of the company’s stock valued at $176,760,000 after acquiring an additional 153,530 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.