Ingevity (NYSE:NGVT) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Ingevity (NYSE:NGVT) from a buy rating to a hold rating in a research report released on Monday.

Separately, BMO Capital Markets raised shares of Ingevity from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Ingevity has an average rating of “Moderate Buy” and a consensus price target of $55.17.

Ingevity Stock Up 0.5 %

NYSE NGVT opened at $43.27 on Monday. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. Ingevity has a 52 week low of $30.90 and a 52 week high of $56.30. The stock has a market capitalization of $1.57 billion, a P/E ratio of -3.65 and a beta of 1.53. The stock has a fifty day moving average of $45.44 and a 200-day moving average of $42.45.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.66. The firm had revenue of $298.80 million during the quarter, compared to analysts’ expectations of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. On average, equities research analysts forecast that Ingevity will post 4.45 EPS for the current year.

Institutional Investors Weigh In On Ingevity

Several hedge funds have recently bought and sold shares of NGVT. Wellington Management Group LLP increased its position in shares of Ingevity by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock valued at $91,279,000 after buying an additional 115,581 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Ingevity by 3.7% in the fourth quarter. California State Teachers Retirement System now owns 33,993 shares of the company’s stock worth $1,385,000 after acquiring an additional 1,199 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Ingevity by 28.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,674 shares of the company’s stock worth $313,000 after purchasing an additional 1,717 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Ingevity during the 4th quarter valued at about $1,423,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Ingevity in the 4th quarter valued at approximately $644,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.