Oppenheimer analyst Ian Zaffino maintained a Buy rating on Ingevity (NGVT) today and set a price target of $65.00. The company’s shares closed last Wednesday at $44.92.
According to TipRanks.com, Zaffino is a 3-star analyst with an average return of 1.4% and a 50.8% success rate. Zaffino covers the Services sector, focusing on stocks such as Madison Square Garden Entertainment, Servicemaster Global Holdings, and Madison Square Garden Sports.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ingevity with a $62.25 average price target, implying a 40.2% upside from current levels. In a report issued on April 20, BMO Capital also maintained a Buy rating on the stock with a $74.00 price target.
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The company has a one-year high of $115.88 and a one-year low of $24.92. Currently, Ingevity has an average volume of 686K.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NGVT in relation to earlier this year.
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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.
