Ingredion (NYSE:INGR - Get Free Report) had its price objective reduced by Stephens from $155.00 to $150.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Stephens' price objective points to a potential upside of 17.34% from the stock's previous close.
Several other equities analysts also recently weighed in on INGR. Barclays raised their price objective on Ingredion from $145.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. BMO Capital Markets dropped their price target on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a research report on Wednesday. Oppenheimer boosted their price objective on shares of Ingredion from $147.00 to $178.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Finally, UBS Group raised their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Ingredion presently has an average rating of "Moderate Buy" and an average target price of $154.33.
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Ingredion Stock Performance
Shares of NYSE:INGR traded up $0.44 during trading on Wednesday, reaching $127.83. The company had a trading volume of 417,546 shares, compared to its average volume of 568,262. The firm has a market capitalization 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 fifty-two week low of $107.77 and a fifty-two week high of $155.44. The stock's fifty day moving average price is $137.62 and its 200 day moving average price is $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 announced its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter last year, the business earned $1.65 earnings per share. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts predict that Ingredion will post 11.14 EPS for the current year.
Insider Activity at Ingredion
In related news, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.66, for a total value of $861,120.52. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the business's stock in a transaction dated Friday, November 29th. The shares were 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 directly owns 12,795 shares of the company's stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,992 shares of company stock valued at $8,913,841. Company insiders own 1.80% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. BOK Financial Private Wealth Inc. acquired a new stake in shares of Ingredion in the fourth quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Ingredion in the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC acquired a new stake in Ingredion in the third quarter valued at approximately $41,000. Crews Bank & Trust purchased a new stake in shares of Ingredion during the fourth quarter valued at approximately $48,000. Finally, Versant Capital Management Inc lifted its position in shares of Ingredion by 431.0% during the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company's stock worth $61,000 after purchasing an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company's stock.
About Ingredion
(
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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.
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