Ingredion Incorporated (NYSE:INGR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Ingredion Incorporated (NYSE:INGR) has received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One investment 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 brokerages that have updated their coverage on the stock in the last year is $155.17.

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays upped their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Oppenheimer raised their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. UBS Group upped their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, BMO Capital Markets lifted their price objective 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.

Ingredion Stock Performance

Ingredion stock 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 price-to-earnings-growth ratio of 1.27 and a beta of 0.73. Ingredion has a 12 month low of $100.90 and a 12 month high of $155.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The stock’s 50-day moving average is $139.11 and its 200-day moving average is $128.18.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating 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 analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $2.33 earnings per share. Ingredion’s revenue for the quarter 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 Transactions at Ingredion

In related news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,454,105.94. The trade was a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James P. Zallie sold 22,550 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,046,374.20. This represents a 30.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,878 shares of company stock valued at $4,674,598. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Ingredion

A number of institutional investors and hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ingredion during the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion during the 2nd quarter worth approximately $33,000. Family Firm Inc. bought a new stake in shares of Ingredion in the 2nd quarter worth approximately $36,000. Finally, International Assets Investment Management LLC acquired a new position in Ingredion during the 2nd quarter valued at approximately $36,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.