Zacks Investment Research lowered shares of Ingevity Corp (NASDAQ:NGVT) from a buy rating to a hold rating in a research report sent to investors on Saturday, July 8th.
According to Zacks, “Ingevity Corporation provides specialty chemicals, carbon materials and technologies. The Company’s operating segments consists of Performance Materials and Performance Chemicals. Performance Chemicals segment products consists of asphalt paving, adhesives, agrochemical dispersants, printing inks, lubricants, petroleum and other diverse industries. Performance Materials segment engineers, manufactures and sells wood-based chemically activated carbon products. Ingevity Corporation is based in North Charleston, SC. “
Other research analysts have also issued reports about the stock. Jefferies Group LLC set a $68.00 price objective on shares of Ingevity Corp and gave the company a buy rating in a research note on Wednesday, July 5th. Aegis reiterated a buy rating and issued a $67.00 target price on shares of Ingevity Corp in a report on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Ingevity Corp has an average rating of Buy and a consensus target price of $64.75.
Ingevity Corp (NASDAQ NGVT) opened at 58.35 on Friday. The firm has a market capitalization of $2.46 billion and a P/E ratio of 55.05. Ingevity Corp has a 1-year low of $37.32 and a 1-year high of $65.02. The stock has a 50 day moving average of $57.80 and a 200-day moving average of $57.32.
Ingevity Corp (NASDAQ:NGVT) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Ingevity Corp had a net margin of 10.53% and a return on equity of 55.06%. The firm had revenue of $218.50 million for the quarter, compared to analyst estimates of $206.90 million. On average, equities research analysts anticipate that Ingevity Corp will post $2.31 earnings per share for the current year.
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In other Ingevity Corp news, Director Jean S. Blackwell acquired 1,500 shares of the stock in a transaction dated Monday, May 15th. The stock was purchased at an average cost of $58.38 per share, for a total transaction of $87,570.00. Following the acquisition, the director now owns 4,711 shares in the company, valued at approximately $275,028.18. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Several hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in shares of Ingevity Corp during the fourth quarter worth about $1,605,000. Dimensional Fund Advisors LP boosted its position in Ingevity Corp by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 440,364 shares of the company’s stock valued at $24,158,000 after buying an additional 46,084 shares in the last quarter. Marshall Wace LLP bought a new position in Ingevity Corp during the fourth quarter valued at about $349,000. Credit Agricole S A boosted its position in Ingevity Corp by 1,296.0% in the fourth quarter. Credit Agricole S A now owns 6,226 shares of the company’s stock valued at $342,000 after buying an additional 5,780 shares in the last quarter. Finally, Norges Bank acquired a new stake in Ingevity Corp during the fourth quarter valued at approximately $17,268,000.
Ingevity Corp Company Profile
Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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