Ingredion Incorporated (NYSE:INGR) Receives $138.83 Consensus Price Target from Brokerages

Ingredion Incorporated (NYSE:INGR) has received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $151.00.

A number of analysts have commented on INGR shares. UBS Group boosted their price target on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Oppenheimer upped their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets upped their price objective on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Barclays lifted their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday.

Ingredion Stock Performance

Shares of NYSE INGR opened at $150.00 on Friday. Ingredion has a 12-month low of $100.01 and a 12-month high of $155.44. The company has a market cap of $9.76 billion, a PE ratio of 15.34, a P/E/G ratio of 1.21 and a beta of 0.73. The stock has a 50 day simple moving average of $135.87 and a 200-day simple moving average of $125.11. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. On average, equities research analysts forecast that Ingredion will post 10.05 EPS for the current year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a $0.80 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.13%. Ingredion’s dividend payout ratio (DPR) is 32.72%.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James P. Zallie sold 1,000 shares of Ingredion stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,056 shares of company stock valued at $4,121,736. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INGR. Belmont Capital LLC acquired a new stake in Ingredion during the third quarter valued at $161,000. Quest Partners LLC acquired a new stake in shares of Ingredion during the 3rd quarter valued at about $86,000. AMG National Trust Bank lifted its holdings in shares of Ingredion by 3.4% during the 3rd quarter. AMG National Trust Bank now owns 11,220 shares of the company’s stock valued at $1,542,000 after buying an additional 364 shares during the last quarter. Chesapeake Capital Corp IL grew its stake in shares of Ingredion by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 6,121 shares of the company’s stock valued at $841,000 after buying an additional 1,335 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in Ingredion by 1.4% during the third quarter. Natixis Advisors LLC now owns 42,373 shares of the company’s stock valued at $5,823,000 after acquiring an additional 577 shares in the last quarter. 85.27% of the stock is 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.