Ingevity (NGVT) Awarded OK Biodegradable SOIL Certification
Ingevity Corporation NGVT recently announced that its Capa polycaprolactone thermoplastic grades have received the OK biodegradable SOIL certification from TUV Austria Bureau of Inspection and Certification. This confirms that Capa thermoplastics completely biodegrade in soil without harming the environment.
The SOIL certification is Ingevity's fifth TUV Austria OK certification for Capa thermoplastics products, joining certifications for WATER and MARINE biodegradability, in addition to INDUSTRIAL and HOME compostability. This highlights the additional benefits the Capa portfolio offers for agricultural and horticultural products.
Capa thermoplastics, when used in applications such as seed coatings, tree shelters, mulch films, plant-fixing clips, binding yarn and control-release carrier substances for plant protection additives, allow agricultural products to completely biodegrade after use, preventing the formation of harmful microplastics. This certification enables Ingevity to penetrate the multibillion-dollar agriculture and horticultural businesses with Capa technology.
Shares of NGVT have lost 11.3% over the past year against a 13.4% rise of its industry.
Image Source: Zacks Investment Research
The company, on its first-quarter earnings call, said that it expects its sales for 2023 in the band of $1.75-$1.95 billion and adjusted EBITDA in the range of $450-$480 million.
Ingevity Corporation Price and Consensus
Ingevity Corporation price-consensus-chart | Ingevity Corporation Quote
Zacks Rank & Key Picks
Ingevity currently carries a Zacks Rank #5 (Strong Sell).
Better-ranked stocks to consider in the basic materials space include Koppers Holdings Inc. KOP, Silvercorp Metals Inc. SVM and Linde plc LIN. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Koppers currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for current-year earnings for KOP is currently pegged at $4.40, implying year-over-year growth of 6.3%. It has a trailing four-quarter earnings surprise of roughly 13.64%, on average. The stock has gained around 44.4% in a year.
Silvercorp Metals currently carries a Zacks Rank #1. The consensus estimate for current fiscal-year earnings for Silvercorp is currently pegged at 27 cents, suggesting year-over-year growth of 28.6%. The stock has gained roughly 5.7% in the past year.
Linde currently carries a Zacks Rank #2. The Zacks Consensus Estimate for LIN’s current-year earnings has been revised 3.8% upward in the past 60 days. Linde beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6.9% on average. The stock has gained roughly 28.7% in the past year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Koppers Holdings Inc. (KOP) : Free Stock Analysis Report
Linde PLC (LIN) : Free Stock Analysis Report
Silvercorp Metals Inc. (SVM) : Free Stock Analysis Report
Ingevity Corporation (NGVT) : Free Stock Analysis Report
