Ingredion (INGR) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Ingredion (NYSE:INGR) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “

INGR has been the subject of several other reports. Citigroup raised Ingredion from a sell rating to a neutral rating in a research report on Thursday, November 1st. Vertical Group cut Ingredion from a buy rating to a hold rating in a research report on Thursday, January 24th. ValuEngine cut Ingredion from a hold rating to a sell rating in a research report on Monday, February 4th. Finally, Jefferies Financial Group raised their target price on Ingredion to $145.00 and gave the stock a buy rating in a research report on Monday, November 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $117.80.

Shares of Ingredion stock opened at $93.04 on Tuesday. The firm has a market capitalization of $6.49 billion, a PE ratio of 13.45, a P/E/G ratio of 1.16 and a beta of 0.73. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.26. Ingredion has a 1 year low of $87.02 and a 1 year high of $135.40.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, February 5th. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.01). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. Ingredion had a return on equity of 17.77% and a net margin of 7.31%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.35 EPS. On average, sell-side analysts anticipate that Ingredion will post 7.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 25th. Investors of record on Wednesday, January 2nd were given a $0.625 dividend. The ex-dividend date of this dividend was Monday, December 31st. This represents a $2.50 annualized dividend and a yield of 2.69%. Ingredion’s dividend payout ratio (DPR) is currently 36.13%.

In other Ingredion news, VP Christine M. Castellano sold 13,261 shares of Ingredion stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $105.19, for a total transaction of $1,394,924.59. Following the completion of the transaction, the vice president now directly owns 30,130 shares of the company’s stock, valued at $3,169,374.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of INGR. Oregon Public Employees Retirement Fund lifted its holdings in shares of Ingredion by 10,975.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock valued at $50,000 after acquiring an additional 4,498,125 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Ingredion by 66.8% during the third quarter. Bank of New York Mellon Corp now owns 1,648,711 shares of the company’s stock valued at $173,050,000 after acquiring an additional 660,285 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Ingredion during the third quarter valued at $60,506,000. FMR LLC lifted its holdings in shares of Ingredion by 49.3% during the third quarter. FMR LLC now owns 1,480,245 shares of the company’s stock valued at $155,366,000 after acquiring an additional 488,810 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Ingredion by 848.3% during the third quarter. Panagora Asset Management Inc. now owns 533,197 shares of the company’s stock valued at $55,964,000 after acquiring an additional 476,973 shares during the period. 92.39% of the stock is owned by institutional investors.

About Ingredion

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

Further Reading: Why do company’s buyback their stock?

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