Ingevity Corp (NGVT) Receives $79.20 Average Price Target from Brokerages

Ingevity Corp (NYSE:NGVT) has been given an average recommendation of “Buy” by the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $79.20.

A number of brokerages have weighed in on NGVT. Rowe reaffirmed an “outperform” rating and set a $90.00 target price (up previously from $80.00) on shares of Ingevity in a research note on Thursday, November 30th. BidaskClub raised shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Saturday, November 4th. Loop Capital reissued a “buy” rating and set a $80.00 price target (up previously from $76.00) on shares of Ingevity in a research report on Tuesday, November 14th. Zacks Investment Research downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Jefferies Group raised their price target on shares of Ingevity from $71.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, November 3rd.

Several institutional investors and hedge funds have recently made changes to their positions in NGVT. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ingevity by 50.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,420 shares of the company’s stock valued at $171,000 after acquiring an additional 807 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Ingevity in the second quarter worth approximately $203,000. Balyasny Asset Management LLC purchased a new stake in Ingevity in the second quarter worth approximately $213,000. Flagship Harbor Advisors LLC purchased a new stake in Ingevity in the third quarter worth approximately $216,000. Finally, Teacher Retirement System of Texas purchased a new stake in Ingevity in the third quarter worth approximately $218,000. 91.37% of the stock is owned by institutional investors.

Shares of Ingevity (NGVT) traded down $0.85 during midday trading on Monday, hitting $70.40. 454,978 shares of the company’s stock were exchanged, compared to its average volume of 212,013. Ingevity has a fifty-two week low of $52.79 and a fifty-two week high of $80.18. The company has a market capitalization of $3,004.10, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 2.05 and a beta of 1.20. The company has a quick ratio of 1.34, a current ratio of 2.36 and a debt-to-equity ratio of 1.92.

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Ingevity 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.

Analyst Recommendations for Ingevity (NYSE:NGVT)

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