Wall Street Zen Downgrades Ingevity (NYSE:NGVT) to Hold

Ingevity (NYSE:NGVT) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other analysts have also recently issued reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $83.00 price target on shares of Ingevity in a research report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Wells Fargo & Company boosted their price objective on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $82.00 target price on shares of Ingevity in a research report on Thursday, February 26th. Finally, Zacks Research upgraded Ingevity to a “hold” rating in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $80.00.

Ingevity Stock Up 0.1%

NGVT opened at $71.15 on Friday. Ingevity has a 1 year low of $28.49 and a 1 year high of $77.46. The firm has a 50 day moving average price of $69.73 and a 200 day moving average price of $61.09. The company has a debt-to-equity ratio of 39.10, a quick ratio of 0.79 and a current ratio of 1.33. The company has a market cap of $2.51 billion, a PE ratio of -15.30 and a beta of 1.27.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). Ingevity had a negative net margin of 13.51% and a positive return on equity of 126.25%. The business had revenue of $255.10 million for the quarter, compared to analyst estimates of $257.27 million. During the same period last year, the firm earned $0.95 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Sell-side analysts expect that Ingevity will post 4.45 earnings per share for the current year.

Hedge Funds Weigh In On Ingevity

A number of institutional investors have recently added to or reduced their stakes in NGVT. AQR Capital Management LLC grew its stake in shares of Ingevity by 10.9% during the first quarter. AQR Capital Management LLC now owns 13,410 shares of the company’s stock valued at $518,000 after acquiring an additional 1,323 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ingevity by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,790 shares of the company’s stock valued at $863,000 after purchasing an additional 1,080 shares during the last quarter. Empowered Funds LLC boosted its holdings in Ingevity by 12.9% in the first quarter. Empowered Funds LLC now owns 5,181 shares of the company’s stock valued at $205,000 after purchasing an additional 594 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Ingevity by 311.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock valued at $23,769,000 after purchasing an additional 454,579 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Ingevity by 306.1% during the 1st quarter. Jane Street Group LLC now owns 88,883 shares of the company’s stock valued at $3,519,000 after purchasing an additional 66,995 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

About Ingevity

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.