Ingredion (NYSE:INGR) Given New $148.00 Price Target at UBS Group

Ingredion (NYSE:INGR) had its target price increased by UBS Group from $141.00 to $148.00 in a report published on Thursday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research firms have also commented on INGR. BMO Capital Markets increased their price target on shares of Ingredion from $120.00 to $128.00 and gave the company a market perform rating in a research report on Wednesday, August 7th. Oppenheimer increased their target price on shares of Ingredion from $126.00 to $138.00 and gave the company an outperform rating in a research report on Wednesday, August 7th. Barclays raised shares of Ingredion from an equal weight rating to an overweight rating and lifted their price target for the stock from $122.00 to $145.00 in a report on Friday, August 9th. Finally, StockNews.com lowered Ingredion from a strong-buy rating to a buy rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $137.33.

Ingredion Stock Down 0.4 %

Ingredion stock traded down $0.51 during midday trading on Thursday, hitting $130.26. 106,062 shares of the company’s stock were exchanged, compared to its average volume of 390,261. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 2.44. The company has a market cap of $8.55 billion, a PE ratio of 13.11, a P/E/G ratio of 1.16 and a beta of 0.72. The firm has a 50-day moving average of $118.55 and a two-hundred day moving average of $116.25. Ingredion has a 12 month low of $89.54 and a 12 month high of $131.52.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the business posted $2.32 EPS. As a group, analysts expect that Ingredion will post 9.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO James P. Zallie sold 27,500 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.36, for a total value of $3,199,900.00. Following the sale, the chief executive officer now directly owns 52,197 shares of the company’s stock, valued at approximately $6,073,642.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the transaction, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,695 shares of company stock valued at $3,349,275. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ingredion

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in Ingredion by 92.4% in the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after buying an additional 846,967 shares in the last quarter. Norges Bank purchased a new position in shares of Ingredion in the 4th quarter valued at about $82,272,000. Vanguard Group Inc. raised its holdings in Ingredion by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock worth $843,617,000 after purchasing an additional 427,496 shares during the period. Acadian Asset Management LLC boosted its position in Ingredion by 177.8% during the second quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock worth $45,491,000 after purchasing an additional 253,949 shares in the last quarter. Finally, Morningstar Investment Services LLC grew its holdings in Ingredion by 98.5% in the fourth quarter. Morningstar Investment Services LLC now owns 393,101 shares of the company’s stock valued at $42,789,000 after purchasing an additional 195,106 shares during the period. 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.