BMO Capital analyst John McNulty reiterated a Buy rating on Ingevity (NGVT – Research Report) yesterday and set a price target of $80.00. The company’s shares closed yesterday at $49.43.
According to TipRanks, McNulty is a 4-star analyst with an average return of 2.7% and a 50.57% success rate. McNulty covers the Basic Materials sector, focusing on stocks such as Ingevity, LyondellBasell, and Ashland.
Currently, the analyst consensus on Ingevity is a Moderate Buy with an average price target of $80.40.
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The company has a one-year high of $90.81 and a one-year low of $49.08. Currently, Ingevity has an average volume of 331.4K.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NGVT in relation to earlier this year. Most recently, in March 2023, PLATT PHILLIP JOHN, the CAO & VP, Bus Transform Lead of NGVT sold 8,847.00 shares for a total of $722,914.94.
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Ingevity Corp engages in the manufacture of specialty chemicals and carbon materials. It operates through the following segments: Performance Chemicals and Performance Materials. The Performance Materials segment consists of automotive technologies and process purifications product families. Automotive technologies produces automotive carbon products used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. Process purifications produce a number of activated carbon products for food, water, beverage and chemical purification applications. The Performance Chemicals segment primarily addresses applications in three product families: pavement technologies, oilfield technologies, and industrial specialties. The company was founded on March 27, 2015 and is headquartered in North Charleston, SC.
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