Ingredion Inc. (INGR) Price Target Cut to $140.00
Ingredion Inc. (NYSE:INGR) had its price objective dropped by equities researchers at Jefferies Group from $152.00 to $140.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price would indicate a potential upside of 19.27% from the stock’s current price.
INGR has been the subject of a number of other research reports. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a report on Thursday, September 22nd. Societe Generale began coverage on Ingredion in a report on Wednesday, September 7th. They issued a “hold” rating for the company. Finally, Credit Suisse Group AG upped their price objective on Ingredion from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Ingredion presently has an average rating of “Hold” and an average price target of $129.50.
Shares of Ingredion (NYSE:INGR) traded down 2.36% during mid-day trading on Wednesday, reaching $117.38. 690,643 shares of the company’s stock traded hands. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 17.49 and a beta of 0.78. The company’s 50 day moving average is $127.29 and its 200-day moving average is $128.85. Ingredion has a 52 week low of $84.57 and a 52 week high of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.18. The business earned $1.49 billion during the quarter, compared to the consensus estimate of $1.45 billion. Ingredion had a return on equity of 21.14% and a net margin of 8.50%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 earnings per share. Equities analysts expect that Ingredion will post $7.06 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Global X Management Co. LLC boosted its position in Ingredion by 58.0% in the third quarter. Global X Management Co. LLC now owns 771 shares of the company’s stock valued at $103,000 after buying an additional 283 shares in the last quarter. NEXT Financial Group Inc boosted its position in Ingredion by 14.4% in the third quarter. NEXT Financial Group Inc now owns 795 shares of the company’s stock valued at $106,000 after buying an additional 100 shares in the last quarter. Invictus RG boosted its position in Ingredion by 6.9% in the second quarter. Invictus RG now owns 865 shares of the company’s stock valued at $112,000 after buying an additional 56 shares in the last quarter. Mizuho Asset Management Co. Ltd. purchased a new position in Ingredion during the second quarter valued at $121,000. Finally, D.A. Davidson & CO. boosted its position in Ingredion by 309.6% in the third quarter. D.A. Davidson & CO. now owns 942 shares of the company’s stock valued at $124,000 after buying an additional 712 shares in the last quarter. 85.25% of the stock is owned by institutional investors.
Ingredion Company Profile
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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