Ingredion (NYSE:INGR) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, November 15th, MarketBeat Ratings reports.
Other equities research analysts have also issued reports about the company. BidaskClub upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Jefferies Group set a $145.00 price target on Ingredion and gave the company a “buy” rating in a research report on Sunday, October 29th. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Ingredion in a research report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $140.00.
Ingredion (NYSE:INGR) traded up $0.38 during trading hours on Wednesday, reaching $140.09. The company’s stock had a trading volume of 471,674 shares, compared to its average volume of 431,098. Ingredion has a 52 week low of $113.07 and a 52 week high of $140.85. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.61. The stock has a market cap of $10,040.26, a price-to-earnings ratio of 18.26, a P/E/G ratio of 1.65 and a beta of 0.72.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.17. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.52 billion. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. Ingredion’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 EPS. analysts anticipate that Ingredion will post 7.71 earnings per share for the current year.
In other Ingredion news, SVP Jorgen Kokke sold 20,674 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the transaction, the senior vice president now directly owns 23,119 shares in the company, valued at $3,074,827. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James P. Zallie sold 27,972 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 29,429 shares in the company, valued at $3,690,102.31. The disclosure for this sale can be found here. Insiders sold 70,508 shares of company stock valued at $8,990,676 over the last quarter. 1.92% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in INGR. Victory Capital Management Inc. raised its stake in shares of Ingredion by 87.3% in the third quarter. Victory Capital Management Inc. now owns 1,396,952 shares of the company’s stock valued at $168,528,000 after acquiring an additional 651,035 shares in the last quarter. LSV Asset Management raised its stake in shares of Ingredion by 20.2% in the second quarter. LSV Asset Management now owns 1,303,657 shares of the company’s stock valued at $155,408,000 after acquiring an additional 218,710 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Ingredion by 19.0% in the third quarter. Principal Financial Group Inc. now owns 1,215,767 shares of the company’s stock valued at $146,670,000 after acquiring an additional 193,722 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Ingredion by 2.1% in the third quarter. Allianz Asset Management GmbH now owns 1,156,251 shares of the company’s stock valued at $139,491,000 after acquiring an additional 24,174 shares in the last quarter. Finally, AJO LP raised its stake in shares of Ingredion by 2.8% in the second quarter. AJO LP now owns 1,052,662 shares of the company’s stock valued at $125,488,000 after acquiring an additional 28,372 shares in the last quarter. Institutional investors own 83.44% of the company’s stock.
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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.
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