Ingredion (NYSE:INGR) Upgraded by Zacks Research to Hold Rating

Ingredion (NYSE:INGR) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

INGR has been the subject of a number of other research reports. Industrial Alliance Securities set a $124.00 target price on shares of Ingredion in a research note on Thursday, November 6th. Oppenheimer set a $136.00 price target on shares of Ingredion in a report on Wednesday, October 22nd. UBS Group reduced their price objective on Ingredion from $130.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ingredion in a research note on Monday, December 15th. Finally, Stephens dropped their price target on Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Ingredion currently has a consensus rating of “Hold” and a consensus price target of $124.33.

Ingredion Stock Performance

Shares of NYSE INGR opened at $110.36 on Monday. The company has a current ratio of 2.75, a quick ratio of 1.79 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $7.01 billion, a P/E ratio of 11.00, a P/E/G ratio of 0.90 and a beta of 0.72. Ingredion has a 12 month low of $102.31 and a 12 month high of $141.78. The stock has a 50 day moving average of $111.31 and a 200-day moving average of $123.13.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.02. Ingredion had a return on equity of 18.14% and a net margin of 9.07%.The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. As a group, equities research analysts predict that Ingredion will post 11.14 EPS for the current year.

Hedge Funds Weigh In On Ingredion

A number of hedge funds have recently added to or reduced their stakes in INGR. Mirabella Financial Services LLP bought a new stake in shares of Ingredion during the 3rd quarter valued at $225,000. Allworth Financial LP raised its stake in Ingredion by 3.6% in the third quarter. Allworth Financial LP now owns 60,542 shares of the company’s stock valued at $7,393,000 after purchasing an additional 2,108 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in Ingredion by 82.9% during the third quarter. Swiss Life Asset Management Ltd now owns 3,040 shares of the company’s stock worth $371,000 after purchasing an additional 1,378 shares during the period. CIBC Bancorp USA Inc. bought a new stake in Ingredion during the third quarter worth about $340,000. Finally, Caerus Investment Advisors LLC acquired a new stake in Ingredion during the third quarter worth about $252,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Company Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.