Ingevity (NYSE:NGVT) Raised to Strong-Buy at Wall Street Zen

by · The Markets Daily

Ingevity (NYSE:NGVT – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $82.00 target price on shares of Ingevity in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Thursday, January 22nd. BMO Capital Markets boosted their price target on Ingevity from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Finally, Zacks Research upgraded Ingevity to a “hold” rating in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $80.00.

View Our Latest Stock Analysis on NGVT

Ingevity Stock Down 0.5%

NGVT stock opened at $71.70 on Friday. The company has a market cap of $2.53 billion, a PE ratio of -15.42 and a beta of 1.31. The business has a 50-day simple moving average of $67.47 and a 200 day simple moving average of $59.30. Ingevity has a 52 week low of $28.49 and a 52 week high of $77.46. 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 – Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The firm had revenue of $255.10 million for the quarter, compared to analyst estimates of $257.27 million. During the same quarter in the previous year, the company earned $0.95 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Sell-side analysts anticipate that Ingevity will post 4.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Ingevity

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Ingevity by 10.9% during the first quarter. AQR Capital Management LLC now owns 13,410 shares of the company’s stock valued at $518,000 after purchasing an additional 1,323 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ingevity by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,790 shares of the company’s stock valued at $863,000 after buying an additional 1,080 shares during the last quarter. Empowered Funds LLC raised its holdings in Ingevity by 12.9% in the 1st quarter. Empowered Funds LLC now owns 5,181 shares of the company’s stock valued at $205,000 after buying an additional 594 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Ingevity by 311.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock worth $23,769,000 after buying an additional 454,579 shares during the period. Finally, Jane Street Group LLC grew its holdings in Ingevity by 306.1% during the 1st quarter. Jane Street Group LLC now owns 88,883 shares of the company’s stock worth $3,519,000 after acquiring an additional 66,995 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

About Ingevity

(Get Free Report)

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.

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