Ingredion (NYSE:INGR) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Ingredion (NYSE:INGR) had its price target boosted by stock analysts at BMO Capital Markets from $128.00 to $147.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential downside of 2.25% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Barclays upped their price objective on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer lifted their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, UBS Group upped their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

Ingredion Stock Up 0.3 %

Shares of INGR traded up $0.38 on Wednesday, hitting $150.38. 65,167 shares of the stock traded hands, compared to its average volume of 378,694. The company has a market capitalization of $9.78 billion, a PE ratio of 15.34, a P/E/G ratio of 1.21 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. Ingredion has a one year low of $100.53 and a one year high of $155.44. The business has a 50 day simple moving average of $135.87 and a 200 day simple moving average of $125.11.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company earned $2.33 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. As a group, equities analysts forecast that Ingredion will post 10.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the completion of the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at $4,454,105.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,056 shares of company stock valued at $4,121,736 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ingredion

Large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake in Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after buying an additional 846,967 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Ingredion by 177.8% in the second quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock worth $45,491,000 after acquiring an additional 253,949 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Ingredion by 55,219.9% in the third quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock valued at $240,240,000 after purchasing an additional 174,495 shares during the period. Dimensional Fund Advisors LP increased its position in Ingredion by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after purchasing an additional 125,543 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Ingredion by 43.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock worth $47,303,000 after purchasing an additional 123,406 shares during the period. 85.27% of the stock is 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.