Oppenheimer Issues Pessimistic Forecast for Ingredion (NYSE:INGR) Stock Price

Ingredion (NYSE:INGR - Get Free Report) had its price objective cut by equities research analysts at Oppenheimer from $167.00 to $155.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Oppenheimer's price objective would indicate a potential upside of 19.58% from the company's current price.

Several other brokerages have also recently weighed in on INGR. BMO Capital Markets decreased their price target on Ingredion from $147.00 to $133.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. StockNews.com cut shares of Ingredion from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. UBS Group restated a "neutral" rating and set a $145.00 price target (down from $165.00) on shares of Ingredion in a research report on Monday, April 7th. Finally, Stephens lowered their price objective on Ingredion from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $150.20.

Ingredion Stock Performance

Shares of INGR traded up $1.21 during trading hours on Tuesday, hitting $129.62. The company's stock had a trading volume of 24,734 shares, compared to its average volume of 457,743. The business has a 50 day simple moving average of $130.51 and a two-hundred day simple moving average of $135.74. Ingredion has a 52-week low of $111.54 and a 52-week high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.03 and a beta of 0.72.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts expect that Ingredion will post 11.14 earnings per share for the current fiscal year.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares of the company's stock, valued at $4,295,906.76. This represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ingredion

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new stake in Ingredion in the 4th quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Ingredion during the fourth quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after acquiring an additional 196 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Ingredion in the 4th quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 32.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock valued at $44,000 after purchasing an additional 79 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.

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