Ingevity Corp (NASDAQ:NGVT)‘s stock had its “buy” rating restated by Aegis in a note issued to investors on Thursday. They currently have a $67.00 target price on the stock, up from their prior target price of $60.00. Aegis’ price objective indicates a potential upside of 11.46% from the stock’s current price.
A number of other research analysts also recently commented on NGVT. Jefferies Group LLC set a $64.00 price target on Ingevity Corp and gave the company a “buy” rating in a report on Saturday, February 25th. Zacks Investment Research raised Ingevity Corp from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Saturday, January 7th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $60.00 price target (up previously from $50.00) on shares of Ingevity Corp in a report on Thursday, December 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ingevity Corp presently has a consensus rating of “Buy” and an average target price of $57.17.
Ingevity Corp (NASDAQ:NGVT) traded up 2.81% during midday trading on Thursday, hitting $61.80. 102,937 shares of the stock traded hands. Ingevity Corp has a 52-week low of $23.00 and a 52-week high of $62.80. The company has a market cap of $2.60 billion and a price-to-earnings ratio of 74.46. The firm’s 50-day moving average is $59.45 and its 200-day moving average is $52.83.
Ingevity Corp (NASDAQ:NGVT) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The business earned $210.90 million during the quarter, compared to analysts’ expectations of $201.96 million. Ingevity Corp’s quarterly revenue was up .9% compared to the same quarter last year. Analysts predict that Ingevity Corp will post $2.35 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Ingevity Corp by 68.7% in the third quarter. JPMorgan Chase & Co. now owns 97,239 shares of the company’s stock worth $4,483,000 after buying an additional 39,590 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Ingevity Corp by 22.6% in the third quarter. UBS Asset Management Americas Inc. now owns 33,667 shares of the company’s stock worth $1,552,000 after buying an additional 6,213 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Ingevity Corp by 12.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the company’s stock worth $227,000 after buying an additional 545 shares in the last quarter. KBC Group NV increased its position in Ingevity Corp by 189.1% in the third quarter. KBC Group NV now owns 28,267 shares of the company’s stock worth $1,303,000 after buying an additional 18,491 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Ingevity Corp by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 600,142 shares of the company’s stock worth $27,668,000 after buying an additional 6,201 shares in the last quarter.
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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