Ingredion (NYSE:INGR) Price Target Raised to $147.00

Ingredion (NYSE:INGR - Get Free Report) had its price target boosted by analysts at Oppenheimer from $138.00 to $147.00 in a research note issued on Monday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price target would suggest a potential upside of 9.75% from the stock's previous close.

A number of other equities research analysts have also commented on INGR. BMO Capital Markets upped their target price 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 upgraded Ingredion from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $122.00 to $145.00 in a report on Friday, August 9th. UBS Group lifted their target price on Ingredion from $141.00 to $148.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Finally, StockNews.com lowered Ingredion from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $138.83.

Ingredion Price Performance

NYSE:INGR traded down $0.32 during midday trading on Monday, hitting $133.94. 277,868 shares of the stock were exchanged, compared to its average volume of 374,171. The business has a 50-day moving average price of $134.23 and a two-hundred day moving average price of $122.90. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 1.22 and a beta of 0.72. Ingredion has a one year low of $89.54 and a one year high of $138.37.

Ingredion (NYSE:INGR - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company posted $2.32 EPS. The company's revenue was down 9.2% compared to the same quarter last year. Sell-side analysts predict that Ingredion will post 9.95 EPS for the current year.

Insider Activity

In other Ingredion news, CEO James P. Zallie sold 371 shares of the company's stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares in the company, valued at $6,967,399.22. 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 at this link. In related news, SVP Robert A. Ritchie sold 1,195 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the sale, the senior vice president now owns 15,906 shares of the company's stock, valued at $1,988,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James P. Zallie sold 371 shares of the firm's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the sale, the chief executive officer now directly owns 52,159 shares of the company's stock, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,551 shares of company stock valued at $3,550,084 in the last 90 days. Company insiders own 1.80% of the company's stock.

Institutional Trading of Ingredion

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raleigh Capital Management Inc. grew its stake in Ingredion by 19.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 945 shares of the company's stock valued at $130,000 after acquiring an additional 157 shares during the period. OLD National Bancorp IN acquired a new position in shares of Ingredion during the 3rd quarter worth about $237,000. Means Investment CO. Inc. purchased a new stake in Ingredion during the 3rd quarter worth approximately $204,000. Raymond James & Associates lifted its position in shares of Ingredion by 11.3% in the third quarter. Raymond James & Associates now owns 230,194 shares of the company's stock valued at $31,636,000 after acquiring an additional 23,396 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Ingredion by 126.1% during the third quarter. Blue Trust Inc. now owns 1,343 shares of the company's stock worth $185,000 after purchasing an additional 749 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Company Profile

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.