Stephens Cuts Ingredion (NYSE:INGR) Price Target to $120.00

Ingredion (NYSE:INGR) had its price objective dropped by analysts at Stephens from $140.00 to $120.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ price objective indicates a potential upside of 12.11% from the stock’s previous close.

Several other brokerages have also recently issued reports on INGR. UBS Group lowered their price objective on shares of Ingredion from $144.00 to $130.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Oppenheimer set a $136.00 target price on shares of Ingredion in a report on Wednesday, October 22nd. BMO Capital Markets lowered their price objective on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating on the stock in a research report on Wednesday. Weiss Ratings lowered Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Zacks Research lowered Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $135.40.

Ingredion Stock Performance

Ingredion stock traded down $0.37 during midday trading on Wednesday, reaching $107.03. 60,840 shares of the stock traded hands, compared to its average volume of 532,047. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $122.12 and a two-hundred day moving average price of $129.86. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.95 and a beta of 0.74. Ingredion has a fifty-two week low of $102.31 and a fifty-two week high of $155.44.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.02. Ingredion had a return on equity of 19.04% and a net margin of 9.24%.The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, equities research analysts forecast that Ingredion will post 11.14 earnings per share for the current year.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 36,287 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total value of $4,591,031.24. Following the transaction, the chief executive officer directly owned 50,129 shares of the company’s stock, valued at approximately $6,342,321.08. This trade represents a 41.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Ingredion in the second quarter worth about $82,779,000. Allianz Asset Management GmbH boosted its holdings in Ingredion by 42.9% in the 1st quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock valued at $162,840,000 after purchasing an additional 361,584 shares during the period. Millennium Management LLC grew its position in Ingredion by 1,093.5% during the first quarter. Millennium Management LLC now owns 365,693 shares of the company’s stock worth $49,445,000 after buying an additional 335,052 shares in the last quarter. Nordea Investment Management AB grew its position in Ingredion by 66.3% during the second quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock worth $97,531,000 after buying an additional 288,201 shares in the last quarter. Finally, Northern Trust Corp grew its position in Ingredion by 37.0% during the first quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock worth $132,883,000 after buying an additional 265,263 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.