Ingredion (NYSE:INGR) Price Target Raised to $168.00

Ingredion (NYSE:INGR - Get Free Report) had its price target lifted by equities researchers at Barclays from $145.00 to $168.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 11.61% from the stock's previous close.

INGR has been the subject of a number of other research reports. StockNews.com cut Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. UBS Group raised their price objective on shares of Ingredion from $141.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, August 15th. BMO Capital Markets boosted their target price on shares of Ingredion from $120.00 to $128.00 and gave the stock a "market perform" rating in a report on Wednesday, August 7th. Finally, Oppenheimer raised their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Ingredion currently has a consensus rating of "Moderate Buy" and an average price target of $151.00.

Ingredion Price Performance

NYSE INGR traded down $4.34 during trading on Wednesday, hitting $150.52. 1,164,704 shares of the company's stock were exchanged, compared to its average volume of 378,714. The company has a market cap of $9.79 billion, a PE ratio of 15.69, a P/E/G ratio of 1.21 and a beta of 0.73. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. Ingredion has a fifty-two week low of $96.20 and a fifty-two week high of $155.44. The stock's 50 day moving average price is $135.21 and its two-hundred day moving average price is $124.75.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The company's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business posted $2.33 earnings per share. Research analysts expect that Ingredion will post 10.05 EPS for the current year.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO James P. Zallie sold 1,300 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total transaction of $174,239.00. Following the transaction, the chief executive officer now owns 52,530 shares of the company's stock, valued at $7,040,595.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James P. Zallie sold 22,550 shares of the company's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,356 shares of company stock valued at $3,400,709. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Ingredion

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its holdings in shares of Ingredion by 154.0% in the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company's stock valued at $9,101,000 after purchasing an additional 47,225 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Ingredion by 23.4% in the first quarter. Sei Investments Co. now owns 113,876 shares of the company's stock valued at $13,305,000 after purchasing an additional 21,619 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Ingredion during the first quarter valued at about $1,812,000. Point72 DIFC Ltd boosted its holdings in Ingredion by 2,629.3% during the second quarter. Point72 DIFC Ltd now owns 3,821 shares of the company's stock worth $438,000 after purchasing an additional 3,681 shares during the last quarter. Finally, Equity Investment Corp grew its position in Ingredion by 2.9% in the 1st quarter. Equity Investment Corp now owns 952,110 shares of the company's stock worth $111,254,000 after purchasing an additional 27,062 shares in the last quarter. Institutional investors and hedge funds 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.