Ingredion Receives “Hold” Rating from Goldman Sachs Group Inc. (INGR)
Ingredion (NASDAQ:INGR)‘s stock had its “hold” rating restated by analysts at Goldman Sachs Group Inc. in a research report issued to clients and investors on Monday, AnalystRatingsNetwork.com reports. They currently have a $68.00 price objective on the stock. Goldman Sachs Group Inc.’s price target would indicate a potential upside of 2.66% from the stock’s previous close.
Ingredion (NASDAQ:INGR) traded down 0.81% on Monday, hitting $66.24. The stock had a trading volume of 748,389 shares. 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 announced its 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.
Several other analysts have also recently commented on the stock. Analysts at BB&T Corp. raised their price target on shares of Ingredion (NASDAQ:INGR) to $83.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, 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. 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $75.80.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Stockholders of record on Monday, September 30th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend 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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