Ingredion (NYSE:INGR - Get Free Report) had its target price reduced by equities researchers at Oppenheimer from $178.00 to $167.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's target price would suggest a potential upside of 30.64% from the company's current price.
Other equities analysts also recently issued reports about the stock. Barclays lifted 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. BMO Capital Markets decreased their price objective on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a report on Wednesday. Stephens cut their target price on Ingredion from $155.00 to $150.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.33.
Read Our Latest Report on Ingredion
Ingredion Price Performance
Shares of INGR stock traded up $0.44 during trading hours on Wednesday, hitting $127.83. 417,546 shares of the company's stock were exchanged, compared to its average volume of 568,262. Ingredion has a fifty-two week low of $107.77 and a fifty-two week high of $155.44. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $137.62 and a two-hundred day moving average of $136.03. The firm has a market cap of $8.33 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.04 and a beta of 0.74.
Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.09. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. Ingredion's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS. Sell-side analysts forecast that Ingredion will post 11.14 EPS for the current year.
Insider Activity at Ingredion
In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the sale, the senior vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James D. Gray sold 54,869 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,992 shares of company stock worth $8,913,841. Corporate insiders own 1.80% of the company's stock.
Hedge Funds Weigh In On Ingredion
A number of hedge funds have recently modified their holdings of the business. BOK Financial Private Wealth Inc. acquired a new stake in shares of Ingredion during the fourth quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Ingredion during the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC purchased a new position in shares of Ingredion in the third quarter valued at $41,000. Crews Bank & Trust acquired a new position in Ingredion during the fourth quarter worth about $48,000. Finally, Versant Capital Management Inc lifted its stake in Ingredion by 431.0% in the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company's stock valued at $61,000 after buying an additional 362 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.
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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