Jefferies Starts Ingevity Corp (NGVT) at Buy

September 23, 2016 6:53 AM EDT
Get Alerts NGVT Hot Sheet
Price: $42.36 +0.31%

Rating Summary:
    4 Buy, 1 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
Trade NGVT Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

Jefferies initiates coverage on Ingevity Corp (NYSE: NGVT) with a Buy rating and a price target of $57.00.

Analyst Daniel Rizzo commented, "Ingevity is the largest provider of activated carbon for fuel emission curtailment with ~85% market share. Tighter fuel efficiency mandates support a 14% EPS CAGR, even in a sluggish automotive market. Ingevity's valuation, in line with its peers, makes it attractive on a PEG basis (1.4 vs. 1.8 average). FCF prospects have improved, and tuck-in M&A is likely. Initiate coverage with a Buy, $57 target."

For an analyst ratings summary and ratings history on Ingevity Corp click here. For more ratings news on Ingevity Corp click here.

Shares of Ingevity Corp closed at $47.69 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Related Entities

Jefferies & Co

Add Your Comment