BidaskClub upgraded shares of Ingredion Incorporated (NYSE:INGR) from a strong sell rating to a sell rating in a research report report published on Wednesday morning.
INGR has been the subject of several other research reports. Jefferies Group LLC reaffirmed a buy rating and issued a $145.00 target price on shares of Ingredion in a research report on Wednesday, April 26th. Zacks Investment Research raised Ingredion from a hold rating to a buy rating and set a $137.00 target price for the company in a research report on Friday, August 4th. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $125.00 target price on shares of Ingredion in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $140.50.
Ingredion (NYSE INGR) traded down 0.82% during trading on Wednesday, reaching $123.68. The company had a trading volume of 225,901 shares. The company has a 50-day moving average price of $120.73 and a 200 day moving average price of $119.89. Ingredion has a 52-week low of $113.07 and a 52-week high of $140.00. The stock has a market cap of $8.87 billion, a PE ratio of 18.60 and a beta of 0.60.
Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. Ingredion’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 earnings per share. On average, analysts anticipate that Ingredion will post $7.64 earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in INGR. BKD Wealth Advisors LLC raised its stake in shares of Ingredion by 6.1% in the second quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock valued at $293,000 after buying an additional 141 shares in the last quarter. Assetmark Inc. raised its stake in shares of Ingredion by 105.3% in the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock valued at $118,000 after buying an additional 500 shares in the last quarter. Sit Investment Associates Inc. raised its stake in shares of Ingredion by 287.5% in the first quarter. Sit Investment Associates Inc. now owns 4,650 shares of the company’s stock valued at $560,000 after buying an additional 3,450 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Ingredion by 9.2% in the first quarter. Canada Pension Plan Investment Board now owns 286,595 shares of the company’s stock valued at $34,515,000 after buying an additional 24,100 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Ingredion by 28.8% in the first quarter. Swiss National Bank now owns 256,600 shares of the company’s stock valued at $30,902,000 after buying an additional 57,400 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.
About Ingredion
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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