Wells Fargo & Company Forecasts Strong Price Appreciation for Ingevity (NYSE:NGVT) Stock

Ingevity (NYSE:NGVT - Get Free Report) had its price target raised by investment analysts at Wells Fargo & Company from $55.00 to $60.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 0.91% from the company's previous close.Other analysts also recently issued reports about the company. Zacks Research upgraded Ingevity to a "hold" rating in a report on Tuesday. BMO Capital Markets increased their price target on Ingevity from $64.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, December 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Ingevity in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Ingevity from a "strong-buy" rating to a "buy" rating in a research report on Saturday, December 6th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $65.00.Read Our Latest Stock Analysis on NGVTIngevity Stock PerformanceNYSE:NGVT opened at $59.46 on Friday. The stock has a fifty day moving average price of $53.35 and a 200-day moving average price of $51.19. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -32.62 and a beta of 1.40. The company has a debt-to-equity ratio of 8.39, a quick ratio of 0.80 and a current ratio of 1.27. Ingevity has a fifty-two week low of $28.49 and a fifty-two week high of $61.77. Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings results on Friday, March 24th. The company reported $0.78 earnings per share (EPS) for the quarter. The firm had revenue of $336.00 million during the quarter. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. As a group, equities analysts anticipate that Ingevity will post 4.45 EPS for the current fiscal year. Institutional Investors Weigh In On IngevitySeveral hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank raised its stake in shares of Ingevity by 1.7% in the 3rd quarter. Amalgamated Bank now owns 10,593 shares of the company's stock valued at $585,000 after purchasing an additional 180 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Ingevity by 3.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,823 shares of the company's stock valued at $418,000 after buying an additional 238 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Ingevity by 15.7% during the third quarter. EverSource Wealth Advisors LLC now owns 1,870 shares of the company's stock valued at $103,000 after buying an additional 254 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Ingevity by 4.4% during the 3rd quarter. Advisory Services Network LLC now owns 6,947 shares of the company's stock worth $383,000 after buying an additional 293 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Ingevity by 21.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company's stock worth $66,000 after buying an additional 297 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors. Ingevity Company Profile (Get Free Report)Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.Featured StoriesFive stocks we like better than IngevityWhat is the Dow Jones Industrial Average (DJIA)?Rocket Lab's Sharp Rebound: What's Behind the Recent MomentumSpecial Purpose Acquisition Company (SPAC) What You Need to Know Jabil Is Flying Under the Radar—But a 50% Surge May Be ComingHow to Buy Gold Stock and Invest in GoldQualcomm’s Monster Rally Has a Catch—Can the Stock Keep Climbing?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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