Ingredion Given New $69.00 Price Target at Barclays (INGR)
Equities research analysts at Barclays reduced their price objective on shares of Ingredion (NASDAQ:INGR) from $72.00 to $69.00 in a research note issued to investors on Friday, American Banking News reports. The firm currently has an “equal weight” rating on the stock. Barclays’ target price points to a potential upside of 4.93% from the company’s current price.
A number of other analysts have also recently weighed in on INGR. Analysts at Goldman Sachs Group Inc. reiterated a “hold” rating on shares of Ingredion in a research note to investors on Monday, September 23rd. They now have a $68.00 price target on the stock. Separately, analysts at BB&T Corp. raised their price target on shares of Ingredion to $83.00 in a research note to investors on Monday, September 23rd. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Ingredion 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. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ingredion presently has a consensus rating of “Buy” and an average target price of $74.68.
Shares of Ingredion (NASDAQ:INGR) traded up 0.24% during mid-day trading on Friday, hitting $65.92. The stock had a trading volume of 426,434 shares. Ingredion has a 52 week low of $60.54 and a 52 week high of $74.31. The stock has a 50-day moving average of $66.72 and a 200-day moving average of $67.2. The company has a market cap of $5.111 billion and a price-to-earnings ratio of 12.02.
Ingredion (NASDAQ:INGR) last announced its earnings results on Wednesday, October 30th. The company reported $1.10 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.26 by $0.16. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts expect that Ingredion will post $5.24 EPS for the current fiscal year.
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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