The stock price of Ingevity Corp (NYSE: NGVT) has surged by 17.92 when compared to previous closing price of 35.32, but the company has seen a 31.85% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-30 that Ingevity Corporation (NYSE:NGVT ) Q3 2024 Earnings Call October 30, 2024 10:00 AM ET Company Participants John Nypaver – Investor Relations Luis Fernandez-Moreno – Interim Chief Executive Officer Mary Dean Hall – Chief Financial Officer Ed Woodcock – President, Performance Materials Rich White – President, Performance Chemicals Steve Hulme – President, Advanced Polymer Technologies Conference Call Participants Lee Jagoda – CJS Securities Daniel Rizzo – Jefferies John McNulty – BMO Capital Markets Mike Sison – Wells Fargo Operator Good morning or good afternoon, and welcome to the Ingevity Third Quarter 2024 Earnings Call and Webcast. My name is Adam, and I’ll be your operator today.
Is It Worth Investing in Ingevity Corp (NYSE: NGVT) Right Now?
Moreover, the 36-month beta value for NGVT is 1.62. Analysts have varying opinions on the stock, with 4 analysts rating it as a “buy,” 2 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for NGVT is 35.98M and currently, short sellers hold a 2.93% of that float. On October 31, 2024, NGVT’s average trading volume was 322.77K shares.
NGVT’s Market Performance
NGVT stock saw an increase of 31.85% in the past week, with a monthly gain of 9.92% and a quarterly increase of -2.32%. The volatility ratio for the week is 5.77%, and the volatility levels for the last 30 days are 5.03% for Ingevity Corp (NGVT). The simple moving average for the past 20 days is 20.14% for NGVT’s stock, with a -3.94% simple moving average for the past 200 days.
Analysts’ Opinion of NGVT
Many brokerage firms have already submitted their reports for NGVT stocks, with CJS Securities repeating the rating for NGVT by listing it as a “Market Outperform.” The predicted price for NGVT in the upcoming period, according to CJS Securities is $58 based on the research report published on August 07, 2024 of the current year 2024.
Jefferies, on the other hand, stated in their research note that they expect to see NGVT reach a price target of $62, previously predicting the price at $52. The rating they have provided for NGVT stocks is “Buy” according to the report published on April 22nd, 2024.
CJS Securities gave a rating of “Market Perform” to NGVT, setting the target price at $49 in the report published on November 06th of the previous year.
NGVT Trading at 13.59% from the 50-Day Moving Average
After a stumble in the market that brought NGVT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -26.01% of loss for the given period.
Volatility was left at 5.03%, however, over the last 30 days, the volatility rate increased by 5.77%, as shares surge +11.19% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.64% upper at present.
During the last 5 trading sessions, NGVT rose by +31.85%, which changed the moving average for the period of 200-days by +1.78% in comparison to the 20-day moving average, which settled at $34.67. In addition, Ingevity Corp saw -11.80% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NGVT starting from Cozad Stacy, who proposed sale 9,256 shares at the price of $36.00 back on Aug 19 ’24. After this action, Cozad Stacy now owns shares of Ingevity Corp, valued at $333,216 using the latest closing price.
Stock Fundamentals for NGVT
Current profitability levels for the company are sitting at:
- 0.16 for the present operating margin
- 0.28 for the gross margin
The net margin for Ingevity Corp stands at -0.38. The total capital return value is set at 0.13. Equity return is now at value -120.81, with -22.65 for asset returns.
Based on Ingevity Corp (NGVT), the company’s capital structure generated 0.87 points at debt to capital in total, while cash flow to debt ratio is standing at 0.07. The debt to equity ratio resting at 6.99. The interest coverage ratio of the stock is 2.63.
Currently, EBITDA for the company is 395.3 million with net debt to EBITDA at 72.49. When we switch over and look at the enterprise to sales, we see a ratio of 1.94. The receivables turnover for the company is 7.79for trailing twelve months and the total asset turnover is 0.67. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.76.
Conclusion
To wrap up, the performance of Ingevity Corp (NGVT) has been mixed in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
