Price Action to Note: Does Ingevity Corp Have More Gas After Achieving All-Time High?

Price Action to Note: Does Ingevity Corp Have More Gas After Achieving All Time High?

The stock of Ingevity Corp (NYSE:NGVT) reached all time high today, Nov, 22 and still has $55.90 target or 8.00% above today’s $51.76 share price. This indicates more upside for the $2.18B company. This technical setup was reported by Barchart.com. If the $55.90 PT is reached, the company will be worth $174.40 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 166,308 shares traded hands. Ingevity Corp (NYSE:NGVT) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.

Ingevity Corp (NYSE:NGVT) Ratings Coverage

Out of 4 analysts covering Ingevity (NYSE:NGVT), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Ingevity has been the topic of 4 analyst reports since June 1, 2016 according to StockzIntelligence Inc. The company was initiated on Friday, June 10 by BB&T Capital. Jefferies initiated the stock with “Buy” rating in Friday, September 23 report. The firm earned “Outperform” rating on Wednesday, June 1 by Oppenheimer. The stock has “Neutral” rating given by Buckingham Research on Friday, September 23.

According to Zacks Investment Research, “Ingevity Corporation provides specialty chemicals, carbon materials and technologies. The Company’s operating segments consists of Performance Materials and Performance Chemicals. Performance Chemicals segment products consists of asphalt paving, adhesives, agrochemical dispersants, printing inks, lubricants, petroleum and other diverse industries. Performance Materials segment engineers, manufactures and sells wood-based chemically activated carbon products. Ingevity Corporation is based in North Charleston, SC.”

Another recent and important Ingevity Corp (NYSE:NGVT) news was published by Marketwatch.com which published an article titled: “Ingevity started at outperform with $33 stock price target at Oppenheimer” on May 19, 2016.

NGVT Company Profile

Ingevity Corporation is a maker of specialty chemicals, carbon materials and technologies. The Firm operates through two divisions: Performance Materials and Performance Chemicals. The Company’s specialty chemicals products serve as inputs used in a range of high performance applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants and printing inks. It is also engaged in expanding Warm Mix Asphalt (WAM) with its Evotherm family of products.

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