Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Ingevity Corp from a hold rating to a buy rating and set a $49.00 target price for the company in a research note on Tuesday, August 9th. SunTrust Banks Inc. restated a buy rating on shares of Ingevity Corp in a report on Saturday, August 6th. BB&T Corp. began coverage on Ingevity Corp in a report on Friday, June 10th. They issued a buy rating and a $44.00 price target on the stock. Oppenheimer Holdings Inc. restated an outperform rating and issued a $50.00 price target (up from $44.00) on shares of Ingevity Corp in a report on Wednesday, September 7th. Finally, KeyCorp began coverage on Ingevity Corp in a report on Thursday, July 7th. They issued an overweight rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $48.60.
Shares of Ingevity Corp (NASDAQ:NGVT) traded up 0.15% on Friday, hitting $47.84. The stock had a trading volume of 8,752 shares. The stock has a market capitalization of $2.01 billion and a PE ratio of 31.98. Ingevity Corp has a one year low of $23.00 and a one year high of $48.00. The firm’s 50 day moving average is $44.28 and its 200-day moving average is $38.15.
Ingevity Corp (NASDAQ:NGVT) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.15. Equities research analysts expect that Ingevity Corp will post $1.94 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. Evercore Wealth Management LLC bought a new stake in Ingevity Corp during the second quarter valued at about $359,000. Mason Street Advisors LLC bought a new stake in Ingevity Corp during the second quarter valued at about $280,000. Royal Bank of Canada bought a new stake in Ingevity Corp during the second quarter valued at about $1,429,000. Sterling Capital Management LLC bought a new stake in Ingevity Corp during the second quarter valued at about $964,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in Ingevity Corp during the second quarter valued at about $4,880,000.
Ingevity Corp Company Profile
Ingevity Corporation is a manufacturer of specialty chemicals, carbon materials and technologies. The Company operates through two segments: Performance Materials and Performance Chemicals. The Company’s specialty chemicals products serve as inputs used in a range of high performance applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants and printing inks.
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