Ingredion Incorporated (NYSE:INGR)‘s stock had its “outperform” rating reaffirmed by equities researchers at Credit Suisse Group in a note issued to investors on Thursday. They currently have a $145.00 price objective on the stock, up from their previous price objective of $140.00. Credit Suisse Group’s price target would suggest a potential upside of 15.68% from the stock’s previous close.
Several other brokerages have also recently issued reports on INGR. Jefferies Group LLC set a $145.00 price objective on Ingredion and gave the stock a “buy” rating in a research note on Sunday. BidaskClub cut Ingredion from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. BMO Capital Markets restated a “hold” rating and issued a $125.00 price objective on shares of Ingredion in a research note on Friday, September 29th. Finally, Zacks Investment Research cut Ingredion from a “buy” rating to a “hold” rating and set a $135.00 price objective for the company. in a research note on Wednesday, September 27th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $137.50.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.17. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the company earned $1.96 earnings per share.
In related news, VP James P. Zallie sold 27,972 shares of Ingredion stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the completion of the transaction, the vice president now directly owns 29,429 shares in the company, valued at $3,690,102.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $125.00, for a total value of $381,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,882 shares of company stock valued at $6,622,034. 1.92% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. National Pension Service raised its position in Ingredion by 108.9% during the second quarter. National Pension Service now owns 894 shares of the company’s stock valued at $105,000 after acquiring an additional 466 shares in the last quarter. Toronto Dominion Bank raised its position in Ingredion by 10.6% during the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock valued at $113,000 after acquiring an additional 91 shares in the last quarter. WFG Advisors LP raised its position in Ingredion by 0.4% during the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock valued at $164,000 after acquiring an additional 6 shares in the last quarter. First Mercantile Trust Co. raised its position in Ingredion by 19.3% during the second quarter. First Mercantile Trust Co. now owns 1,432 shares of the company’s stock valued at $171,000 after acquiring an additional 232 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in Ingredion by 17.2% during the second quarter. Penserra Capital Management LLC now owns 1,456 shares of the company’s stock valued at $173,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 83.31% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
What are top analysts saying about Ingredion Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Ingredion Incorporated and related companies.