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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
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.
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 is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 13.8% year-over-year for the current fiscal year, with sales growth of 14.2%.
Three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.23 to $5.95 per share for 2022. NGVT boasts an average earnings surprise of 22.6%.
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.