What Will Happen to Ingevity Corporation (NGVT) Next? The Stock Just Reaches 52-Week High

May 17, 2018 - By James Guidry

The stock of Ingevity Corporation (NYSE:NGVT) hit a new 52-week high and has $86.51 target or 4.00 % above today’s $83.18 share price. The 7 months bullish chart indicates low risk for the $3.50B company. The 1-year high was reported on May, 17 by Barchart.com. If the $86.51 price target is reached, the company will be worth $140.04M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.39% or $0.33 during the last trading session, reaching $83.18. About 220,003 shares traded. Ingevity Corporation (NYSE:NGVT) has risen 19.53% since May 17, 2017 and is uptrending. It has outperformed by 7.98% the S&P500.

Analysts await Ingevity Corporation (NYSE:NGVT) to report earnings on August, 1. They expect $0.98 EPS, up 25.64 % or $0.20 from last year’s $0.78 per share. NGVT’s profit will be $41.25M for 21.22 P/E if the $0.98 EPS becomes a reality. After $0.79 actual EPS reported by Ingevity Corporation for the previous quarter, Wall Street now forecasts 24.05 % EPS growth.

Another recent and important Ingevity Corporation (NYSE:NGVT) news was published by Seekingalpha.com which published an article titled: “Ingevity’s (NGVT) CEO Michael Wilson on Q1 2018 Results – Earnings Call Transcript” on May 04, 2018.

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company has market cap of $3.50 billion. It operates through two divisions, Performance Materials and Performance Chemicals. It currently has negative earnings. The Performance Materials segment engineers, makes, and sells wood chemically activated carbon products used in gasoline vapor emission control systems.

Ingevity Corporation (NYSE:NGVT) Ratings Chart

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