BB&T Corp. Increases Ingredion Price Target to $83.00 (INGR)
Stock analysts at BB&T Corp. raised their target price on shares of Ingredion (NASDAQ:INGR) to $83.00 in a report issued on Monday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. BB&T Corp.’s price objective would indicate a potential upside of 25.30% from the company’s current price.
INGR has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Ingredion (NASDAQ:INGR) from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, September 16th. They now have a $65.40 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Ingredion (NASDAQ:INGR) in a research note to investors on Wednesday, September 4th. They set a “neutral” rating and a $68.00 price target on the stock. Finally, analysts at KeyCorp upgraded shares of Ingredion (NASDAQ:INGR) from a “hold” rating to a “buy” rating in a research note to investors on Thursday, August 29th. They now have a $75.00 price target on the stock.
Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $75.80.
Ingredion (NASDAQ:INGR) traded down 0.81% during mid-day trading on Monday, hitting $66.24. 748,389 shares of the company’s stock traded hands. Ingredion has a 52 week low of $54.02 and a 52 week high of $74.31. The stock has a 50-day moving average of $64.69 and a 200-day moving average of $68.00. The company has a market cap of $5.136 billion and a price-to-earnings ratio of 12.21.
Ingredion (NASDAQ:INGR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.18 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Analysts expect that Ingredion will post $5.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Thursday, September 26th.
Ingredion Incorporated (NASDAQ:INGR), formerly Corn Products International, Inc is a global manufacturer and supplier of starch and sweetener ingredients to a range of industries, including packaged food, beverage, brewing and industrial customers.
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