Ingredion (NYSE:INGR) Stock Price Expected to Rise, Oppenheimer Analyst Says

Ingredion (NYSE:INGR - Get Free Report) had its target price increased by analysts at Oppenheimer from $147.00 to $178.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's target price points to a potential upside of 18.26% from the stock's previous close.

A number of other analysts have also weighed in on the stock. BMO Capital Markets upped their price target on shares of Ingredion from $120.00 to $128.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 7th. Barclays raised Ingredion from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $122.00 to $145.00 in a research note on Friday, August 9th. StockNews.com downgraded Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 7th. Finally, UBS Group raised their target price on Ingredion from $141.00 to $148.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $151.00.

Ingredion Stock Performance

Shares of INGR traded down $4.34 during mid-day trading on Wednesday, reaching $150.52. 1,164,870 shares of the company's stock traded hands, compared to its average volume of 378,710. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The business's 50-day moving average price is $135.21 and its 200-day moving average price is $124.75. The stock has a market capitalization of $9.79 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.21 and a beta of 0.73. Ingredion has a 12 month low of $96.20 and a 12 month high of $155.44.

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

Insider Activity at Ingredion

In related news, CEO James P. Zallie sold 1,000 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,070.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James P. Zallie sold 1,300 shares of the company's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,595.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,356 shares of company stock worth $3,400,709 over the last three months. Company insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Ingredion

Several institutional investors have recently bought and sold shares of INGR. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ingredion during the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its position in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company's stock valued at $27,000 after buying an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion in the 2nd quarter valued at $33,000. Family Firm Inc. bought a new stake in shares of Ingredion during the second quarter worth $36,000. Finally, International Assets Investment Management LLC bought a new position in Ingredion in the second quarter valued at about $36,000. 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.