BMO Capital Markets Lowers Ingredion (NYSE:INGR) Price Target to $133.00

Ingredion (NYSE:INGR - Get Free Report) had its price objective cut by BMO Capital Markets from $147.00 to $133.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. BMO Capital Markets' price target would indicate a potential upside of 4.04% from the stock's current price.

Several other equities research analysts have also recently commented on INGR. UBS Group raised their target price on Ingredion from $165.00 to $173.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Stephens raised shares of Ingredion to a "hold" rating in a research report on Monday, December 2nd. Oppenheimer lifted their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Finally, Barclays increased their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Ingredion has an average rating of "Moderate Buy" and an average price target of $154.33.

Ingredion Trading Up 0.3 %

Shares of Ingredion stock traded up $0.44 during trading on Wednesday, hitting $127.83. The company's stock had a trading volume of 417,546 shares, compared to its average volume of 568,262. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74. Ingredion has a 52 week low of $107.77 and a 52 week high of $155.44. The stock has a 50-day moving average price of $137.62 and a two-hundred day moving average price of $136.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.09. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The business's revenue was down 6.3% on a year-over-year basis. Equities research analysts anticipate that Ingredion will post 11.14 EPS for the current fiscal year.

Insider Activity

In related news, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company's stock, valued at approximately $4,083,922.44. This trade represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,992 shares of company stock worth $8,913,841 over the last three months. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ingredion

Large investors have recently modified their holdings of the stock. State Street Corp grew its position in shares of Ingredion by 0.8% in the third quarter. State Street Corp now owns 2,436,601 shares of the company's stock valued at $334,862,000 after purchasing an additional 19,560 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Ingredion by 16.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,890,488 shares of the company's stock valued at $260,056,000 after buying an additional 268,389 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Ingredion by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company's stock valued at $211,529,000 after acquiring an additional 36,421 shares during the period. Geode Capital Management LLC grew its stake in Ingredion by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company's stock valued at $160,516,000 after acquiring an additional 19,064 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Ingredion by 11.9% during the 4th quarter. Allianz Asset Management GmbH now owns 842,763 shares of the company's stock worth $115,930,000 after acquiring an additional 89,335 shares during the period. Hedge funds and other institutional investors own 85.27% of the company's stock.

About Ingredion

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.