Ingevity (NGVT) Stock Price Up 5.7%

Shares of Ingevity Corp (NYSE:NGVT) rose 5.7% during mid-day trading on Monday . The stock traded as high as $107.08 and last traded at $106.94. Approximately 804,634 shares traded hands during trading, an increase of 103% from the average daily volume of 396,716 shares. The stock had previously closed at $101.18.

NGVT has been the subject of several recent research reports. Oppenheimer set a $110.00 target price on shares of Ingevity and gave the company a “buy” rating in a research report on Thursday, February 14th. Zacks Investment Research lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. Jefferies Financial Group set a $68.00 target price on shares of Ingevity and gave the company a “buy” rating in a research report on Thursday, December 20th. Stifel Nicolaus initiated coverage on shares of Ingevity in a research report on Monday, December 10th. They set a “hold” rating and a $84.00 target price for the company. Finally, Loop Capital boosted their target price on shares of Ingevity to $104.00 and gave the company a “hold” rating in a research report on Friday, February 15th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Ingevity presently has an average rating of “Buy” and an average price target of $100.22.

The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.26 and a current ratio of 2.31. The stock has a market cap of $4.22 billion, a PE ratio of 25.89, a P/E/G ratio of 1.91 and a beta of 1.65.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, February 13th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.29. The company had revenue of $278.60 million during the quarter, compared to analyst estimates of $265.60 million. Ingevity had a net margin of 14.92% and a return on equity of 53.18%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. On average, equities analysts forecast that Ingevity Corp will post 4.87 EPS for the current fiscal year.

In other Ingevity news, EVP Katherine Pryor Burgeson sold 4,400 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $114.76, for a total value of $504,944.00. Following the completion of the transaction, the executive vice president now directly owns 8,801 shares in the company, valued at $1,010,002.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John C. Fortson sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $114.46, for a total transaction of $2,060,280.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,125 shares of company stock valued at $2,876,065. Company insiders own 0.18% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of NGVT. Janney Montgomery Scott LLC bought a new position in shares of Ingevity in the third quarter worth approximately $204,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Ingevity by 12.7% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,038 shares of the company’s stock worth $1,023,000 after acquiring an additional 1,135 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Ingevity by 91.4% during the third quarter. Eagle Asset Management Inc. now owns 198,306 shares of the company’s stock worth $20,203,000 after acquiring an additional 94,716 shares during the last quarter. EAM Investors LLC bought a new position in shares of Ingevity during the third quarter worth $3,577,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Ingevity by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 655,620 shares of the company’s stock worth $66,795,000 after acquiring an additional 14,402 shares during the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.

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About Ingevity (NYSE:NGVT)

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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