Analysts Set Ingevity Corp (NASDAQ:NGVT) PT at $65.00

Shares of Ingevity Corp (NASDAQ:NGVT) have been given an average recommendation of “Buy” by the six ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $65.00.

Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Ingevity Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Jefferies Group LLC boosted their target price on Ingevity Corp from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Finally, Aegis reissued a “buy” rating and set a $67.00 target price (up previously from $60.00) on shares of Ingevity Corp in a research report on Thursday, April 6th.

In other Ingevity Corp news, Director Jean S. Blackwell acquired 1,500 shares of the business’s stock in a transaction on Monday, May 15th. The shares were bought at an average price of $58.38 per share, with a total value of $87,570.00. Following the transaction, the director now directly owns 4,711 shares of the company’s stock, valued at approximately $275,028.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Several large investors have recently modified their holdings of NGVT. BlackRock Inc. boosted its stake in shares of Ingevity Corp by 90,224.0% in the first quarter. BlackRock Inc. now owns 5,089,759 shares of the company’s stock valued at $309,712,000 after buying an additional 5,084,124 shares in the last quarter. Channing Capital Management LLC boosted its stake in shares of Ingevity Corp by 207.1% in the first quarter. Channing Capital Management LLC now owns 831,700 shares of the company’s stock worth $50,609,000 after buying an additional 560,900 shares during the period. Norges Bank bought a new stake in shares of Ingevity Corp during the fourth quarter worth $17,268,000. Wellington Management Group LLP boosted its stake in shares of Ingevity Corp by 85.8% in the first quarter. Wellington Management Group LLP now owns 627,588 shares of the company’s stock worth $38,188,000 after buying an additional 289,880 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Ingevity Corp by 257.1% in the first quarter. Bank of America Corp DE now owns 271,059 shares of the company’s stock worth $16,494,000 after buying an additional 195,157 shares during the period.

COPYRIGHT VIOLATION NOTICE: “[[title]]” was first published by [[site]] and is the property of of [[site]]. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at [[permalink]].

Ingevity Corp (NASDAQ:NGVT) traded up 1.06% during trading on Monday, reaching $59.12. 287,603 shares of the company were exchanged. The firm’s 50 day moving average price is $57.17 and its 200-day moving average price is $57.94. The stock has a market capitalization of $2.49 billion and a price-to-earnings ratio of 55.77. Ingevity Corp has a one year low of $37.32 and a one year high of $65.02.

Ingevity Corp (NASDAQ:NGVT) last released its earnings results on Wednesday, May 3rd. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $218.50 million for the quarter, compared to the consensus estimate of $206.90 million. Ingevity Corp had a return on equity of 55.06% and a net margin of 10.53%. On average, equities research analysts predict that Ingevity Corp will post $2.31 earnings per share for the current year.

About Ingevity Corp

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.