Ingredion Incorporated (NYSE:INGR) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.
A number of other analysts have also commented on INGR. Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a research note on Friday, August 4th. BMO Capital Markets reiterated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a report on Friday, September 29th. Jefferies Group LLC set a $145.00 target price on Ingredion and gave the company a “buy” rating in a report on Sunday, October 29th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $145.00 target price (up previously from $140.00) on shares of Ingredion in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $137.50.
Ingredion (NYSE INGR) traded up $0.71 during mid-day trading on Friday, reaching $129.99. 360,744 shares of the company’s stock were exchanged, compared to its average volume of 272,201. The company has a quick ratio of 1.59, a current ratio of 2.41 and a debt-to-equity ratio of 0.61. Ingredion has a 52 week low of $113.07 and a 52 week high of $133.46. The stock has a market capitalization of $9,324.05, a price-to-earnings ratio of 16.99, a PEG ratio of 1.54 and a beta of 0.68.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.17. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm earned $1.96 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. analysts forecast that Ingredion will post 7.67 EPS for the current year.
In related news, VP James P. Zallie sold 21,862 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total value of $2,733,624.48. Following the transaction, the vice president now owns 29,306 shares in the company, valued at $3,664,422.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James P. Zallie sold 27,972 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $125.39, for a total value of $3,507,409.08. Following the completion of the transaction, the vice president now owns 29,429 shares in the company, valued at approximately $3,690,102.31. The disclosure for this sale can be found here. Insiders sold 52,882 shares of company stock worth $6,622,034 in the last 90 days. 1.92% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. National Pension Service boosted its position in Ingredion by 108.9% during the second quarter. National Pension Service now owns 894 shares of the company’s stock worth $105,000 after purchasing an additional 466 shares during the period. Toronto Dominion Bank boosted its position in Ingredion by 10.6% during the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after purchasing an additional 91 shares during the period. WFG Advisors LP boosted its position in Ingredion by 0.4% during the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after purchasing an additional 6 shares during the period. First Mercantile Trust Co. boosted 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 worth $171,000 after purchasing an additional 232 shares during the period. Finally, Penserra Capital Management LLC boosted 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 worth $173,000 after purchasing an additional 214 shares during the period. Hedge funds and other 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.