Today’s Price Action: Does Ingevity Corp Have More Gas After Making 52-Week High?

Today's Price Action: Does Ingevity Corp Have More Gas After Making 52 Week High?

The stock of Ingevity Corp (NYSE:NGVT) hit a new 52-week high and has $58.56 target or 20.00% above today’s $48.80 share price. The 8 months bullish chart indicates low risk for the $2.08 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $58.56 price target is reached, the company will be worth $416.00M 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. About 349,924 shares traded hands or 18.15% up from the average. Ingevity Corp (NYSE:NGVT) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.

Ingevity Corp (NYSE:NGVT) Ratings Coverage

Out of 4 analysts covering Ingevity (NYSE:NGVT), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Ingevity has been the topic of 4 analyst reports since June 1, 2016 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, September 23 by Jefferies. The stock of Ingevity Corp (NYSE:NGVT) has “Buy” rating given on Friday, June 10 by BB&T Capital. The rating was initiated by Oppenheimer on Wednesday, June 1 with “Outperform”. The company was initiated on Friday, September 23 by Buckingham Research.

According to Zacks Investment Research, “Ingevity Corporation provides specialty chemicals, carbon materials and technologies. The Company’s operating segments consists of Performance Materials and Performance Chemicals. Performance Chemicals segment products consists of asphalt paving, adhesives, agrochemical dispersants, printing inks, lubricants, petroleum and other diverse industries. Performance Materials segment engineers, manufactures and sells wood-based chemically activated carbon products. Ingevity Corporation is based in North Charleston, SC.”

More news for Ingevity Corp (NYSE:NGVT) were recently published by: Marketwatch.com, which released: “Ingevity started at outperform with $33 stock price target at Oppenheimer” on May 19, 2016. Businesswire.com‘s article titled: “Ingevity Corporation Formed with Completion of Spinoff from WestRock Company” and published on May 16, 2016 is yet another important article.

NGVT Company Profile

Ingevity Corporation is a maker of specialty chemicals, carbon materials and technologies. The Firm operates through two divisions: Performance Materials and Performance Chemicals. The Company’s specialty chemicals products serve as inputs used in a range of high performance applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants and printing inks. It is also engaged in expanding Warm Mix Asphalt (WAM) with its Evotherm family of products.

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