We believe that Ingevity Corporation (NYSE:NGVT) is a solid choice for investors seeking exposure in the chemical space. Strengthening end-market demand for its products, services offered by both its business segments and organic and inorganic efforts bode well.
The stock has been upgraded to a Zacks Rank #1 (Strong Buy) on Oct 6.
Why the Upgrade?
Sentiments are positive for Ingevity, as evident from 17.7% rally in its share price since the beginning of the year. The stock has outperformed 10% gain recorded by the industry it belongs to over the same period.
Also, the stocks’ earnings estimates for 2017 have been revised upward by five analysts while that for 2018 have been raised by four in the last 60 days. Currently, the Zacks Consensus Estimate stands at $2.42 for 2017 and $2.78 for 2018, representing 1.7% and 4.5% increase over their respective 60-day ago estimates.
Ingevity Corporation Price and Consensus
Kraton Corporation (KRA): Free Stock Analysis Report
Ingevity Corporation (NGVT): Free Stock Analysis Report
AdvanSix Inc. (ASIX): Free Stock Analysis Report
CSW Industrials, Inc. (CSWI): Free Stock Analysis Report
Original post
Zacks Investment Research