Zacks Investment Research Lowers Ingevity Corp (NGVT) to Hold

Zacks Investment Research lowered shares of Ingevity Corp (NASDAQ:NGVT) from a buy rating to a hold rating in a report published on Saturday, July 8th.

According to Zacks, “Ingevity Corporation provides specialty chemicals, carbon materials and technologies. The Company’s operating segments consists of Performance Materials and Performance Chemicals. Performance Chemicals segment products consists of asphalt paving, adhesives, agrochemical dispersants, printing inks, lubricants, petroleum and other diverse industries. Performance Materials segment engineers, manufactures and sells wood-based chemically activated carbon products. Ingevity Corporation is based in North Charleston, SC. “

Several other analysts have also recently commented on the company. Jefferies Group LLC set a $68.00 target price on Ingevity Corp and gave the company a buy rating in a report on Wednesday, July 5th. Aegis reiterated a buy rating and issued a $67.00 target price on shares of Ingevity Corp in a report on Tuesday, July 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $64.75.

Shares of Ingevity Corp (NASDAQ NGVT) opened at 58.35 on Friday. Ingevity Corp has a 12 month low of $37.32 and a 12 month high of $65.02. The firm has a market capitalization of $2.46 billion and a P/E ratio of 55.05. The company has a 50 day moving average of $57.80 and a 200-day moving average of $57.32.

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

TRADEMARK VIOLATION WARNING: “Zacks Investment Research Lowers Ingevity Corp (NGVT) to Hold” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2017/07/18/ingevity-corp-ngvt-lowered-to-hold-at-zacks-investment-research-updated.html.

In other Ingevity Corp news, Director Jean S. Blackwell purchased 1,500 shares of the business’s stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $58.38 per share, for a total transaction of $87,570.00. Following the acquisition, the director now owns 4,711 shares of the company’s stock, valued at $275,028.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional investors have recently modified their holdings of the company. Elkfork Partners LLC raised its position in shares of Ingevity Corp by 7.1% in the first quarter. Elkfork Partners LLC now owns 2,002 shares of the company’s stock worth $122,000 after buying an additional 132 shares during the last quarter. IFP Advisors Inc raised its position in shares of Ingevity Corp by 125.3% in the first quarter. IFP Advisors Inc now owns 2,224 shares of the company’s stock worth $135,000 after buying an additional 1,237 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in shares of Ingevity Corp by 7.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the company’s stock worth $155,000 after buying an additional 168 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in shares of Ingevity Corp by 7.1% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the company’s stock worth $188,000 after buying an additional 204 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Ingevity Corp by 46.9% in the first quarter. Envestnet Asset Management Inc. now owns 3,500 shares of the company’s stock worth $211,000 after buying an additional 1,117 shares during the last quarter.

Ingevity Corp 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.

Get a free copy of the Zacks research report on Ingevity Corp (NGVT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ingevity Corp (NASDAQ:NGVT)

Receive News & Ratings for Ingevity Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingevity Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply