Ingredion Inc. (NYSE:INGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $146.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 12.93% from the stock’s previous close.
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. “
INGR has been the subject of a number of other research reports. Societe Generale initiated coverage on shares of Ingredion in a research note on Wednesday, September 7th. They issued a “hold” rating for the company. Citigroup Inc. lifted their price target on shares of Ingredion from $140.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Jefferies Group restated a “buy” rating and issued a $147.00 price target (up previously from $136.00) on shares of Ingredion in a research note on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Ingredion has a consensus rating of “Hold” and an average price target of $124.33.
Ingredion (NYSE:INGR) opened at 129.28 on Thursday. The firm’s 50-day moving average is $134.88 and its 200-day moving average is $122.48. Ingredion has a 12 month low of $84.57 and a 12 month high of $140.00. The stock has a market cap of $9.33 billion, a P/E ratio of 20.68 and a beta of 1.11.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by $0.07. The company earned $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. Ingredion had a return on equity of 21.01% and a net margin of 7.94%. During the same quarter last year, the firm posted $1.53 EPS. On average, equities analysts forecast that Ingredion will post $6.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, October 3rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, September 29th. This is an increase from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s payout ratio is currently 28.99%.
In other news, VP James P. Zallie sold 16,900 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $132.00, for a total transaction of $2,230,800.00. Following the completion of the transaction, the vice president now owns 48,008 shares of the company’s stock, valued at $6,337,056. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert J. Stefansic sold 18,810 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $135.97, for a total transaction of $2,557,595.70. Following the transaction, the senior vice president now directly owns 16,890 shares of the company’s stock, valued at approximately $2,296,533.30. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Invictus RG increased its position in shares of Ingredion by 6.9% in the second quarter. Invictus RG now owns 865 shares of the company’s stock valued at $112,000 after buying an additional 56 shares during the period. Mizuho Asset Management Co. Ltd. purchased a new position in shares of Ingredion during the second quarter valued at about $121,000. ClariVest Asset Management LLC purchased a new position in shares of Ingredion during the second quarter valued at about $135,000. Financial Architects Inc increased its position in shares of Ingredion by 297.7% in the second quarter. Financial Architects Inc now owns 1,193 shares of the company’s stock valued at $154,000 after buying an additional 893 shares during the period. Finally, Citizens Financial Group Inc RI increased its position in shares of Ingredion by 1,399.0% in the first quarter. Citizens Financial Group Inc RI now owns 1,544 shares of the company’s stock valued at $165,000 after buying an additional 1,441 shares during the period. 86.61% of the stock is owned by institutional investors.
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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