Ingredion (NYSE:INGR) Given New $173.00 Price Target at UBS Group

Ingredion (NYSE:INGR) had its price target increased by equities researchers at UBS Group from $165.00 to $173.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 22.84% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Oppenheimer increased their price objective on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays increased their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets raised their target price on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. 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 data from MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and an average price target of $155.17.

Ingredion Stock Down 5.6 %

Shares of Ingredion stock opened at $140.83 on Friday. Ingredion has a 12-month low of $100.90 and a 12-month high of $155.44. The firm has a market capitalization of $9.18 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average is $137.55 and its 200-day moving average is $126.53.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the company posted $2.33 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts anticipate that Ingredion will post 10.6 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. This represents a 13.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James P. Zallie sold 371 shares of the firm’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 value of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,056 shares of company stock valued at $4,121,736 over the last ninety days. 1.80% of the stock is owned by company insiders.

Institutional Trading of Ingredion

A number of large investors have recently bought and sold shares of INGR. Pacer Advisors Inc. boosted its stake in shares of Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after purchasing an additional 846,967 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Ingredion by 177.8% during the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock valued at $45,491,000 after purchasing an additional 253,949 shares during the last quarter. International Assets Investment Management LLC boosted its position in Ingredion by 55,219.9% in the third quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock valued at $240,240,000 after buying an additional 174,495 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Ingredion by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after buying an additional 125,543 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Ingredion during the third quarter worth approximately $17,094,000. 85.27% of the stock is currently owned by institutional investors.

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.