Ingredion Incorporated (NYSE:INGR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ingredion Incorporated (NYSE:INGR) has earned an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $155.17.

A number of research firms recently commented on INGR. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer boosted their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note 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 research report on Wednesday, November 6th. BMO Capital Markets boosted their price objective on Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Finally, UBS Group raised their target price on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th.

Ingredion Stock Performance

INGR opened at $147.03 on Thursday. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.27 and a beta of 0.73. The company’s fifty day moving average price is $139.11 and its two-hundred day moving average price is $128.18. Ingredion has a 1-year low of $100.90 and a 1-year high of $155.44. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 EPS. On average, analysts expect that Ingredion will post 10.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the transaction, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at $4,083,922.44. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,878 shares of company stock valued at $4,674,598 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ingredion

Several hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its holdings in Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after purchasing an additional 85 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Ingredion by 0.5% in the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after buying an additional 94 shares in the last quarter. Seelaus Asset Management LLC boosted its position in shares of Ingredion by 3.3% in the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock valued at $451,000 after acquiring an additional 105 shares during the period. Conscious Wealth Investments LLC boosted its position in shares of Ingredion by 0.4% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after acquiring an additional 106 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other 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.