Ingevity (NYSE:NGVT) Sets New 12-Month High – Should You Buy?

Ingevity Corporation (NYSE:NGVT)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $79.22 and last traded at $78.80, with a volume of 14174 shares changing hands. The stock had previously closed at $77.10.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Wells Fargo & Company boosted their target price on shares of Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. BMO Capital Markets reissued an “outperform” rating and set a $83.00 target price on shares of Ingevity in a research note on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $82.00 target price on shares of Ingevity in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $80.00.

Ingevity Stock Up 1.1%

The company has a quick ratio of 0.79, a current ratio of 1.33 and a debt-to-equity ratio of 39.10. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -16.77 and a beta of 1.24. The stock’s 50 day moving average is $71.00 and its 200 day moving average is $63.85.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The firm had revenue of $255.10 million during the quarter, compared to the consensus estimate of $257.27 million. During the same period in the prior year, the firm posted $0.95 EPS. The firm’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. Analysts forecast that Ingevity Corporation will post 5.05 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NGVT. Principal Financial Group Inc. boosted its stake in Ingevity by 269.9% during the fourth quarter. Principal Financial Group Inc. now owns 652,237 shares of the company’s stock valued at $38,599,000 after buying an additional 475,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Ingevity by 311.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock worth $23,769,000 after buying an additional 454,579 shares in the last quarter. Simcoe Capital Management LLC boosted its holdings in Ingevity by 188.8% during the second quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock worth $26,928,000 after buying an additional 408,508 shares in the last quarter. Boston Partners boosted its holdings in Ingevity by 141.6% during the fourth quarter. Boston Partners now owns 620,360 shares of the company’s stock worth $36,719,000 after buying an additional 363,584 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Ingevity by 465.9% in the 1st quarter. Bessemer Group Inc. now owns 314,739 shares of the company’s stock valued at $22,419,000 after acquiring an additional 259,124 shares in the last quarter. Institutional investors 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.