Ingevity (NYSE:NGVT) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Ingevity (NYSE:NGVT – Get Rating) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the stock.

Several other equities analysts also recently issued reports on NGVT. Loop Capital upgraded shares of Ingevity from a hold rating to a buy rating and upped their price objective for the company from $81.00 to $100.00 in a research note on Thursday, February 2nd. Wells Fargo & Company upped their price objective on shares of Ingevity from $76.00 to $85.00 and gave the company an equal weight rating in a research note on Wednesday, March 1st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingevity has an average rating of Moderate Buy and an average price target of $90.67.

Ingevity Stock Performance

Shares of NGVT stock opened at $68.89 on Thursday. The company has a current ratio of 2.24, a quick ratio of 1.13 and a debt-to-equity ratio of 2.11. The firm has a fifty day moving average price of $82.04 and a 200 day moving average price of $73.92. The company has a market cap of $2.56 billion, a P/E ratio of 12.57 and a beta of 1.83. Ingevity has a 12 month low of $58.44 and a 12 month high of $90.81.

Ingevity (NYSE:NGVT – Get Rating) last released its quarterly earnings data on Monday, February 27th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.33). Ingevity had a net margin of 12.68% and a return on equity of 34.63%. The company had revenue of $383.60 million during the quarter, compared to analyst estimates of $395.77 million. During the same quarter in the prior year, the company earned $0.78 EPS. The business’s revenue was up 14.2% on a year-over-year basis. Sell-side analysts predict that Ingevity will post 6.36 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Stuart Edward Jr. Woodcock sold 4,968 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $82.14, for a total value of $408,071.52. Following the completion of the sale, the executive vice president now directly owns 26,541 shares of the company’s stock, valued at $2,180,077.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Richard Allen White, Jr. sold 1,439 shares of the stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $81.00, for a total transaction of $116,559.00. Following the completion of the transaction, the senior vice president now directly owns 6,530 shares of the company’s stock, valued at $528,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stuart Edward Jr. Woodcock sold 4,968 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $82.14, for a total transaction of $408,071.52. Following the transaction, the executive vice president now directly owns 26,541 shares of the company’s stock, valued at $2,180,077.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,254 shares of company stock valued at $1,247,519. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Point72 Middle East FZE purchased a new position in Ingevity during the fourth quarter worth about $268,000. Howe & Rusling Inc. raised its holdings in Ingevity by 3.0% during the fourth quarter. Howe & Rusling Inc. now owns 4,363 shares of the company’s stock worth $307,000 after purchasing an additional 129 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Ingevity during the fourth quarter worth about $300,000. Morgan Stanley raised its holdings in Ingevity by 9.0% during the fourth quarter. Morgan Stanley now owns 301,714 shares of the company’s stock worth $21,253,000 after purchasing an additional 25,033 shares in the last quarter. Finally, Man Group plc raised its holdings in Ingevity by 5.9% during the fourth quarter. Man Group plc now owns 137,460 shares of the company’s stock worth $9,683,000 after purchasing an additional 7,676 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Ingevity Company Profile

(Get Rating)

Ingevity Corp. engages in the manufacture of specialty chemicals and carbon materials. It operates through the following segments: Performance Chemicals and Performance Materials. The Performance Materials segment consists of automotive technologies and process purifications product families. Automotive technologies produces automotive carbon products used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats.