Zacks Investment Research downgraded shares of Ingredion (NYSE:INGR) from a buy rating to a hold rating in a report published on Thursday, January 18th.
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. “
A number of other research firms have also commented on INGR. Stephens upgraded shares of Ingredion from an equal weight rating to an overweight rating in a research note on Wednesday, November 15th. Jefferies Group set a $145.00 price objective on shares of Ingredion and gave the company a buy rating in a research note on Sunday, October 29th. Credit Suisse Group restated an outperform rating and issued a $145.00 price objective (up from $140.00) on shares of Ingredion in a research note on Thursday, November 2nd. BidaskClub upgraded shares of Ingredion from a sell rating to a hold rating in a research note on Friday, October 6th. Finally, 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $146.00.
Ingredion (INGR) traded up $1.48 during trading hours on Thursday, hitting $129.47. 420,438 shares of the company’s stock traded hands, compared to its average volume of 447,459. The firm has a market capitalization of $9,290.00, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 1.40 and a beta of 0.71. The company has a current ratio of 2.52, a quick ratio of 1.66 and a debt-to-equity ratio of 0.60. Ingredion has a fifty-two week low of $113.42 and a fifty-two week high of $146.28.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.01). Ingredion had a net margin of 8.63% and a return on equity of 20.42%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm earned $1.67 earnings per share. Ingredion’s revenue was up 24.2% on a year-over-year basis. research analysts expect that Ingredion will post 8.3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, December 29th. This represents a $2.40 annualized dividend and a yield of 1.85%. Ingredion’s payout ratio is currently 33.95%.
In related news, SVP Martin Sonntag sold 14,939 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.00, for a total transaction of $2,016,765.00. Following the transaction, the senior vice president now owns 9,875 shares of the company’s stock, valued at $1,333,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jorgen Kokke sold 20,674 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were 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 approximately $3,074,827. The disclosure for this sale can be found here. Insiders have sold 52,215 shares of company stock worth $7,007,843 over the last 90 days. 1.92% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC raised its stake in Ingredion by 15.2% during the fourth quarter. Pzena Investment Management LLC now owns 3,495 shares of the company’s stock worth $489,000 after purchasing an additional 462 shares during the period. Baird Financial Group Inc. purchased a new position in Ingredion during the fourth quarter worth approximately $228,000. FDx Advisors Inc. raised its stake in Ingredion by 6.1% during the fourth quarter. FDx Advisors Inc. now owns 12,023 shares of the company’s stock worth $1,681,000 after purchasing an additional 687 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in Ingredion during the fourth quarter worth approximately $566,000. Finally, American International Group Inc. raised its stake in Ingredion by 1.4% during the fourth quarter. American International Group Inc. now owns 150,518 shares of the company’s stock worth $21,042,000 after purchasing an additional 2,041 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.
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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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