CJS Securities Upgrades Ingevity (NYSE:NGVT) to ‘Outperform’

CJS Securities updated shares of Ingevity (NYSE:NGVT – Free Report) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday, MarketBeat reports. CJS Securities presently has a $58.00 target price on the stock.

Other equities analysts recently issued reports on the company. Oppenheimer cut their price target on Ingevity from $58.00 to $50.00 and set an outperform rating on the stock in a research report on Thursday, August 1st. Loop Capital lifted their price target on Ingevity from $49.00 to $56.00 and gave the company a hold rating in a research report on Tuesday, May 7th. Jefferies Financial Group upgraded Ingevity from a hold rating to a buy rating and boosted their target price for the stock from $52.00 to $62.00 in a report on Monday, April 22nd. Wells Fargo & Company cut their price target on Ingevity from $45.00 to $40.00 and set an equal weight rating on the stock in a report on Monday, August 5th. Finally, BMO Capital Markets cut their price target on Ingevity from $45.00 to $42.00 and set a market perform rating on the stock in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $51.33.

Check out the latest stock analysis on NGVT

Ingenuity stock down 1.5%

NGVT opened at $35.61 on Wednesday. Ingevity has a 12-month low of $34.37 and a 12-month high of $56.29. The stock has a market cap of $1.29 billion, a P/E ratio of -11.45 and a beta of 1.66. The stock’s 50-day moving average price is $43.75 and its 200-day moving average price is $46.21. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.92, and a quick ratio of 0.98.

Ingevity (NYSE:NGVT – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The firm had revenue of $390.60 million for the quarter, compared to analyst estimates of $407.58 million. In the same quarter last year, the company posted earnings per share of $1.41. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. As a group, research analysts predict that Ingevity will post 3.47 earnings per share for the current year.

Institutional Trading of Ingevity

Hedge funds and other institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. boosted its position in shares of Ingevity by 809.2% in the second quarter. First Horizon Advisors Inc. now owns 591 shares of the company’s stock worth $26,000 after purchasing an additional 526 shares during the period. TFO Wealth Partners LLC boosted its position in shares of Ingevity by 40,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock worth $39,000 after purchasing an additional 815 shares during the period. Blue Trust Inc. boosted its position in Ingevity by 101.8% in the second quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after purchasing an additional 452 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Ingevity during the fourth quarter valued at $41,000. Finally, Headlands Technologies LLC purchased a new stake in Ingevity in the second quarter valued at $46,000. Institutional investors and hedge funds own 91.59% of the company’s shares.

Ingevity Company Profile

(Get a free report)

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals and engineering polymers in North America, Asia Pacific, Europe, the Middle East, Africa and South America. It operates through three segments: Performance Materials, Performance Chemicals and Advanced Polymer Technologies.

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