Ingredion Incorporated (INGR) Receives $141.00 Consensus PT from Brokerages
Shares of Ingredion Incorporated (NYSE:INGR) have been assigned an average rating of “Hold” from the six analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $141.00.
INGR has been the subject of several research analyst reports. Zacks Investment Research cut Ingredion from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. BMO Capital Markets restated a “hold” rating and issued a $125.00 price target on shares of Ingredion in a research report on Tuesday, May 16th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $145.00 price target on shares of Ingredion in a research report on Wednesday, June 14th.
In related news, VP James P. Zallie sold 3,048 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $125.00, for a total transaction of $381,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.92% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of INGR. National Pension Service boosted its stake in Ingredion by 108.9% in the 2nd quarter. National Pension Service now owns 894 shares of the company’s stock worth $105,000 after buying an additional 466 shares during the last quarter. Toronto Dominion Bank boosted its stake in Ingredion by 10.6% in the 2nd quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after buying an additional 91 shares during the last quarter. Assetmark Inc. boosted its stake in Ingredion by 105.3% in the 1st quarter. Assetmark Inc. now owns 975 shares of the company’s stock worth $118,000 after buying an additional 500 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Ingredion by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 1,242 shares of the company’s stock worth $149,000 after buying an additional 108 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in Ingredion by 30.0% in the 1st quarter. Global X Management Co. LLC now owns 1,325 shares of the company’s stock worth $160,000 after buying an additional 306 shares during the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.
Ingredion (NYSE:INGR) traded down 0.03% during trading on Friday, hitting $124.56. 177,380 shares of the stock traded hands. Ingredion has a 12 month low of $113.07 and a 12 month high of $138.20. The stock has a market cap of $8.93 billion, a P/E ratio of 18.73 and a beta of 0.60. The firm’s 50-day moving average is $123.08 and its 200-day moving average is $120.17.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $1.53 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts forecast that Ingredion will post $7.61 EPS for the current year.
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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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