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5 Reasons to Add Ingevity (NGVT) Stock to Your Portfolio Now
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Ingevity Corporation’s (NGVT - Free Report) stock looks promising at the moment. The chemical maker has seen its shares pop roughly 20% over the past six months.
If you haven’t taken advantage of the share price appreciation yet, the time is right for you to add the stock to portfolio as it looks promising and is poised to carry the momentum ahead.
What Makes NGVT an Attractive Pick?
Solid Rank & VGM Score: Ingevity currently has a Zacks Rank #2 (Buy) and a VGM Score of B. Our research shows that stocks with a VGM Score of A or B combined with a Zacks Rank #1 (Strong Buy) or #2, offer the best investment opportunities for investors. Thus, the company appears to be a compelling investment proposition at the moment.
An Outperformer: Ingevity has outperformed the industry it belongs to over the past year. The company’s shares have shot up 26.8% compared with roughly 5.4% decline recorded by the industry.
Positive Earnings Surprise History: Ingevity has an impressive earnings surprise history, outpacing the Zacks Consensus Estimate in each of the trailing four quarters, delivering a positive average earnings surprise of 19.8%.
Strong Q3 & Upbeat Outlook: Ingevity logged a profit of $49.5 million or $1.16 per share in third-quarter 2018, surging roughly 46% year over year. Earnings per share topped the Zacks Consensus Estimate of $1.04.
Ingevity’s revenues rose roughly 18% year over year to $311.2 million, also exceeding the Zacks Consensus Estimate of $305.5 million. The company gained from higher demand across its businesses, Georgia-Pacific pine chemicals acquisition and solid operational performance.
Adjusted EBITDA for the third quarter climbed roughly 25% year over year to $90.7 million on the back of increased volumes, better price and mix, and reduced raw materials and production costs.
Ingevity increased the mid-point and narrowed the range for its 2018 guidance for adjusted EBITDA to $306-$314 million from $302-$314 million. The company reaffirmed its sales guidance of between $1.10 billion and $1.13 billion for the year.
Strong Growth Prospects: The Zacks Consensus Estimate for earnings for 2018 for Ingevity is currently pegged at $3.85 per share, reflecting an expected year-over-year growth of 49.2%. Moreover, earnings are expected to register a 73.3% growth in the fourth quarter. The stock also has a long-term expected earnings per share growth rate of roughly 12%, higher than the industry average of 10.6%.
Mosaic has expected long-term earnings growth rate of 7%. Its shares have surged 48% in the past year.
CF Industries has expected long-term earnings growth rate of 6%. Its shares have rallied 22% in a year.
Methanex has expected long-term earnings growth rate of 15%. Its shares have gained 9% in the past year.
Will You Make a Fortune on the Shift to Electric Cars? Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
5 Reasons to Add Ingevity (NGVT) Stock to Your Portfolio Now
Ingevity Corporation’s (NGVT - Free Report) stock looks promising at the moment. The chemical maker has seen its shares pop roughly 20% over the past six months.
If you haven’t taken advantage of the share price appreciation yet, the time is right for you to add the stock to portfolio as it looks promising and is poised to carry the momentum ahead.
What Makes NGVT an Attractive Pick?
Solid Rank & VGM Score: Ingevity currently has a Zacks Rank #2 (Buy) and a VGM Score of B. Our research shows that stocks with a VGM Score of A or B combined with a Zacks Rank #1 (Strong Buy) or #2, offer the best investment opportunities for investors. Thus, the company appears to be a compelling investment proposition at the moment.
An Outperformer: Ingevity has outperformed the industry it belongs to over the past year. The company’s shares have shot up 26.8% compared with roughly 5.4% decline recorded by the industry.
Positive Earnings Surprise History: Ingevity has an impressive earnings surprise history, outpacing the Zacks Consensus Estimate in each of the trailing four quarters, delivering a positive average earnings surprise of 19.8%.
Strong Q3 & Upbeat Outlook: Ingevity logged a profit of $49.5 million or $1.16 per share in third-quarter 2018, surging roughly 46% year over year. Earnings per share topped the Zacks Consensus Estimate of $1.04.
Ingevity’s revenues rose roughly 18% year over year to $311.2 million, also exceeding the Zacks Consensus Estimate of $305.5 million. The company gained from higher demand across its businesses, Georgia-Pacific pine chemicals acquisition and solid operational performance.
Adjusted EBITDA for the third quarter climbed roughly 25% year over year to $90.7 million on the back of increased volumes, better price and mix, and reduced raw materials and production costs.
Ingevity increased the mid-point and narrowed the range for its 2018 guidance for adjusted EBITDA to $306-$314 million from $302-$314 million. The company reaffirmed its sales guidance of between $1.10 billion and $1.13 billion for the year.
Strong Growth Prospects: The Zacks Consensus Estimate for earnings for 2018 for Ingevity is currently pegged at $3.85 per share, reflecting an expected year-over-year growth of 49.2%. Moreover, earnings are expected to register a 73.3% growth in the fourth quarter. The stock also has a long-term expected earnings per share growth rate of roughly 12%, higher than the industry average of 10.6%.
Ingevity Corporation Price and Consensus
Ingevity Corporation Price and Consensus | Ingevity Corporation Quote
Other Stocks to Consider
Other top-ranked stocks worth considering include The Mosaic Company (MOS - Free Report) , CF Industries Holdings, Inc. (CF - Free Report) and Methanex Corporation (MEOH - Free Report) , each sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Mosaic has expected long-term earnings growth rate of 7%. Its shares have surged 48% in the past year.
CF Industries has expected long-term earnings growth rate of 6%. Its shares have rallied 22% in a year.
Methanex has expected long-term earnings growth rate of 15%. Its shares have gained 9% in the past year.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>