Ingredion (NYSE:INGR) Stock Rating Lowered by Zacks Research

Ingredion (NYSE:INGR) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, Zacks reports.

Other equities analysts have also issued research reports about the stock. Barclays decreased their price target on shares of Ingredion from $118.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 14th. UBS Group dropped their price objective on shares of Ingredion from $108.00 to $104.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Weiss Ratings upgraded shares of Ingredion from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Finally, Stephens reduced their target price on Ingredion from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, November 6th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.00.

Ingredion Stock Down 0.8%

INGR stock opened at $92.00 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $97.19 and its 200 day moving average is $105.04. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 0.89 and a beta of 0.63. Ingredion has a 1-year low of $90.14 and a 1-year high of $123.49.

Ingredion (NYSE:INGR) last announced its earnings results on Thursday, November 5th. The company reported $2.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.31). Ingredion had a net margin of 7.83% and a return on equity of 14.36%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the firm earned $2.75 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts predict that Ingredion will post 9.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Ingredion

A number of hedge funds have recently made changes to their positions in INGR. Bessemer Group Inc. grew its holdings in shares of Ingredion by 66.1% during the 3rd quarter. Bessemer Group Inc. now owns 284 shares of the company’s stock valued at $27,000 after purchasing an additional 113 shares during the last quarter. Elevation Wealth Partners LLC bought a new stake in Ingredion in the third quarter worth $32,000. Bell Investment Advisors Inc purchased a new stake in Ingredion during the second quarter valued at about $34,000. Root Financial Partners LLC purchased a new stake in Ingredion during the third quarter valued at about $35,000. Finally, Continuum Advisory LLC bought a new position in shares of Ingredion during the second quarter valued at about $43,000. 85.27% of the stock is currently owned by institutional investors.

Ingredion Company Profile

Ingredion Incorporated is a global ingredient solutions company that transforms corn, tapioca, potato and other plant-based materials into ingredients used by manufacturers. Its products include starches, sweeteners, glucose syrups, dextrose, maltodextrins, plant proteins and texturizers. The company’s ingredients are used in food and beverages, as well as in applications such as animal nutrition, brewing, pharmaceuticals, paper and packaging. Ingredion works with customers to develop ingredients and formulations that support product texture, taste, nutrition and performance.