Ingredion Incorporated (INGR) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Ingredion Incorporated (NYSE:INGR) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $139.00 price objective on the stock.
According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
Other analysts have also recently issued research reports about the stock. Jefferies Group LLC restated a buy rating and set a $145.00 target price on shares of Ingredion in a research note on Wednesday, June 14th. BMO Capital Markets restated a hold rating and set a $125.00 target price on shares of Ingredion in a research note on Tuesday, May 16th. Finally, BidaskClub upgraded shares of Ingredion from a strong sell rating to a sell rating in a research note on Thursday, June 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $141.00.
Ingredion (INGR) opened at 123.99 on Wednesday. The company has a 50 day moving average price of $122.89 and a 200 day moving average price of $120.15. Ingredion has a 12 month low of $113.07 and a 12 month high of $139.35. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 18.65 and a beta of 0.60.
Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.03. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. Ingredion’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.53 EPS. Equities research analysts predict that Ingredion will post $7.61 earnings per share for the current year.
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In other Ingredion news, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $125.00, for a total value of $381,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.92% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in Ingredion by 1,655.4% in the 1st quarter. BlackRock Inc. now owns 8,284,372 shares of the company’s stock worth $997,686,000 after purchasing an additional 7,812,440 shares in the last quarter. Vanguard Group Inc. raised its stake in Ingredion by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,407,053 shares of the company’s stock worth $771,601,000 after purchasing an additional 20,051 shares in the last quarter. Wellington Management Group LLP raised its stake in Ingredion by 39.7% in the 1st quarter. Wellington Management Group LLP now owns 1,524,557 shares of the company’s stock worth $183,602,000 after purchasing an additional 433,572 shares in the last quarter. LSV Asset Management raised its stake in Ingredion by 20.2% in the 2nd quarter. LSV Asset Management now owns 1,303,657 shares of the company’s stock worth $155,408,000 after purchasing an additional 218,710 shares in the last quarter. Finally, AJO LP raised its stake in Ingredion by 2.8% in the 2nd quarter. AJO LP now owns 1,052,662 shares of the company’s stock worth $125,488,000 after purchasing an additional 28,372 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.
Ingredion Company Profile
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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