Ingevity Receives Upgrade from StockNews.com

Ingevity (NYSE:NGVT) recently caught the attention of equities research analysts at StockNews.com, who upgraded the stock from a "hold" rating to a "buy" rating in a research note issued on Thursday.

Additionally, BMO Capital Markets adjusted their price target for Ingevity, moving it from $61.00 to $62.00, while assigning a "market perform" rating to the stock. Currently, three research analysts maintain a hold rating on Ingevity, whereas four analysts have given it a buy rating. Data from MarketBeat indicates that the stock holds a consensus rating of "Moderate Buy" with a target price estimate of $54.67.

Ingevity's Stock Performance

On Thursday, Ingevity opened trading at $46.11. Over the past year, the stock has experienced a low of $30.90 and a high of $56.29. The company’s debt-to-equity ratio stands at 6.86, while the quick ratio is 1.04 and the current ratio is 1.87. The stock has a market capitalization of approximately $1.68 billion, a PE ratio of -3.89, and a beta of 1.64. Its 50-day and 200-day simple moving averages are $43.33 and $41.09, respectively.

Ingevity announced its quarterly earnings on February 18, 2025, reporting earnings per share of $0.95, which surpassed analysts' expectations of $0.29 by $0.66. The total revenue for the quarter was $298.80 million, slightly above the estimated $297.40 million. The company reported a negative net margin of 30.60% and a substantial return on equity of 41.44%. Analysts project that Ingevity will generate an EPS of 4.45 for the current year.

Institutional Ownership

Recent trading activity shows that several institutional investors have either increased or decreased their stakes in Ingevity. For instance, Amalgamated Bank raised its position by 2.4% during the third quarter, now owning 10,667 shares valued at $416,000 after acquiring an additional 246 shares. First Horizon Advisors Inc. saw a significant increase in its holdings by 45.9% during the same quarter, concluding with 862 shares worth $34,000 after adding 271 shares. Oppenheimer Asset Management Inc. and KBC Group NV also increased their investments by 1.2% and 27.5%, respectively, during the recent quarters. Overall, institutional investors and hedge funds currently own 91.59% of Ingevity's stock.

About Ingevity

Ingevity Corporation specializes in the manufacturing and sale of activated carbon products, specialty chemicals, and engineered polymers across various global markets, including North America, Asia Pacific, Europe, the Middle East, Africa, and South America. The company operates through three primary segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.

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