Is Buying Ingevity Corporation (NGVT) Here a Winning Strategy?

April 23, 2018 - By Vivian Park

The stock of Ingevity Corporation (NYSE:NGVT) reached all time high today, Apr, 23 and still has $88.44 target or 9.00 % above today’s $81.14 share price. This indicates more upside for the $3.43 billion company. This technical setup was reported by Barchart.com. If the $88.44 PT is reached, the company will be worth $308.25M 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.

The stock decreased 0.98% or $0.81 during the last trading session, reaching $81.14. About 69,647 shares traded. Ingevity Corporation (NYSE:NGVT) has risen 19.53% since April 23, 2017 and is uptrending. It has outperformed by 7.98% the S&P500.

Analysts await Ingevity Corporation (NYSE:NGVT) to report earnings on May, 2 after the close. They expect $0.61 earnings per share, up 24.49 % or $0.12 from last year’s $0.49 per share. NGVT’s profit will be $25.75M for 33.25 P/E if the $0.61 EPS becomes a reality. After $0.45 actual earnings per share reported by Ingevity Corporation for the previous quarter, Wall Street now forecasts 35.56 % EPS growth.

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company has market cap of $3.43 billion. It operates through two divisions, Performance Materials and Performance Chemicals. It has a 27.32 P/E ratio. The Performance Materials segment engineers, makes, and sells wood chemically activated carbon products used in gasoline vapor emission control systems.

Ingevity Corporation (NYSE:NGVT) Ratings Chart

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