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Why Ingevity (NGVT) is a Top Growth Stock for the Long-Term

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For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

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

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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 boasts a Growth Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 13.8% year-over-year for 2022, while Wall Street anticipates its top line to improve by 14.2%.

Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2022, while the Zacks Consensus Estimate has increased $0.23 to $5.95 per share. NGVT also boasts an average earnings surprise of 22.6%.

On a historic basis, Ingevity has generated cash flow growth of 20.3%, and is expected to report cash flow expansion of 5.5% this year.

NGVT should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.


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