Ingevity Corp (NYSE:NGVT)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $102.04 and last traded at $98.98, with a volume of 6498 shares changing hands. The stock had previously closed at $99.61.
A number of brokerages recently commented on NGVT. Berenberg Bank began coverage on Ingevity in a report on Thursday, July 12th. They set a “buy” rating and a $100.00 target price for the company. Oppenheimer raised their target price on Ingevity from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Zacks Investment Research upgraded Ingevity from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a report on Monday, July 30th. Loop Capital increased their price target on Ingevity to $89.00 and gave the company a “$90.05” rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, ValuEngine raised Ingevity from a “hold” rating to a “buy” rating in a research report on Saturday, June 16th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $100.33.
The company has a debt-to-equity ratio of 2.09, a current ratio of 2.58 and a quick ratio of 1.48. The stock has a market cap of $4.20 billion, a PE ratio of 38.43, a PEG ratio of 2.24 and a beta of 1.20.
Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, July 25th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.13. The company had revenue of $308.60 million for the quarter, compared to analyst estimates of $305.14 million. Ingevity had a return on equity of 46.65% and a net margin of 14.72%. Ingevity’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. research analysts predict that Ingevity Corp will post 3.72 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. FMR LLC raised its position in shares of Ingevity by 240.1% during the 2nd quarter. FMR LLC now owns 866,464 shares of the company’s stock worth $70,062,000 after acquiring an additional 611,676 shares in the last quarter. BlackRock Inc. raised its position in shares of Ingevity by 7.8% during the 2nd quarter. BlackRock Inc. now owns 5,985,960 shares of the company’s stock worth $484,025,000 after acquiring an additional 431,313 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of Ingevity by 8,223.0% during the 1st quarter. Summit Trail Advisors LLC now owns 367,711 shares of the company’s stock worth $368,000 after acquiring an additional 363,293 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Ingevity during the 2nd quarter worth about $19,759,000. Finally, Palisade Capital Management LLC NJ raised its position in shares of Ingevity by 96.7% during the 1st quarter. Palisade Capital Management LLC NJ now owns 340,078 shares of the company’s stock worth $25,060,000 after acquiring an additional 167,198 shares in the last quarter. 92.09% of the stock is currently owned by institutional investors.
Ingevity Company Profile (NYSE:NGVT)
Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.
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