Ingevity (NGVT) Receives a Buy from Oppenheimer

In a report released today, Ian Zaffino from Oppenheimer maintained a Buy rating on Ingevity (NGVTResearch Report), with a price target of $75.00. The company’s shares closed last Thursday at $53.66.

According to TipRanks.com, Zaffino is a 3-star analyst with an average return of 0.9% and a 51.1% success rate. Zaffino covers the Services sector, focusing on stocks such as Madison Square Garden Entertainment, Madison Square Garden Sports, and Terminix Global Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ingevity with a $71.60 average price target, which is a 34.6% upside from current levels. In a report issued on October 20, Stifel Nicolaus also maintained a Buy rating on the stock with a $70.00 price target.

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Ingevity’s market cap is currently $2.48B and has a P/E ratio of 14.10. The company has a Price to Book ratio of -9.15.

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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.