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Here's Why Ingevity (NGVT) is a Strong Growth Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

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Ingevity (NGVT)

Based in North Charleston, SC, Ingevity Corporation is a global producer of high performance activated carbon materials and specialty chemicals. The company provides innovative solutions through proprietary formulated products. Ingevity started trading in May 2016 after its spinoff from the WestRock Company.

NGVT sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of B, and has a VGM Score of B. Earnings and sales are forecasted to increase 15.7% and 15% year-over-year, respectively.

Two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.10 to $6.05 per share for 2022. NGVT boasts an average earnings surprise of 16.3%.

Looking at cash flow, Ingevity is expected to report cash flow growth of 5.5% this year; NGVT has generated cash flow growth of 20.3% over the past three to five years.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, NGVT should be on investors' short lists.


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Ingevity Corporation (NGVT) : Free Stock Analysis Report
 
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Zacks Investment Research