Ingredion Incorporated (INGR) Stock Rating Lowered by Zacks Investment Research
Ingredion Incorporated (NYSE:INGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
Several other brokerages also recently weighed in on INGR. BidaskClub upgraded shares of Ingredion from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 16th. BMO Capital Markets restated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a research note on Tuesday, May 16th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $145.00 target price on shares of Ingredion in a research note on Wednesday, June 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Ingredion presently has a consensus rating of “Hold” and an average price target of $141.00.
Ingredion (NYSE INGR) traded down 0.12% during trading on Wednesday, reaching $124.55. The company had a trading volume of 244,444 shares. The stock has a market capitalization of $8.93 billion, a P/E ratio of 18.73 and a beta of 0.60. The stock has a 50 day moving average of $123.20 and a 200-day moving average of $120.22. Ingredion has a 12-month low of $113.07 and a 12-month high of $137.62.
Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.03. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. Ingredion’s revenue was up .1% compared to the same quarter last year. During the same period last year, the firm earned $1.53 earnings per share. On average, analysts forecast that Ingredion will post $7.61 earnings per share for the current fiscal year.
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In other news, VP James P. Zallie sold 21,862 shares of Ingredion stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the completion of the sale, the vice president now directly owns 29,306 shares in the company, valued at $3,664,422.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James P. Zallie sold 3,048 shares of Ingredion 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 disclosure for this sale can be found here. 1.92% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. National Pension Service lifted its stake in shares of Ingredion by 108.9% during the second quarter. National Pension Service now owns 894 shares of the company’s stock worth $105,000 after buying an additional 466 shares during the period. Toronto Dominion Bank lifted its stake in shares of Ingredion by 10.6% during the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after buying an additional 91 shares during the period. Assetmark Inc. lifted its stake in shares of Ingredion by 105.3% during the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock worth $118,000 after buying an additional 500 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Ingredion by 9.5% during the first 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 period. Finally, Global X Management Co. LLC lifted its stake in shares of Ingredion by 30.0% during the first 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 period. 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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