Ingredion Given New $75.00 Price Target at BB&T Corp. (INGR)
Analysts at BB&T Corp. reduced their price target on shares of Ingredion (NASDAQ:INGR) from $78.00 to $75.00 in a research report issued to clients and investors on Friday, AR Network reports. BB&T Corp.’s target price points to a potential upside of 21.10% from the stock’s previous close.
Separately, analysts at BMO Capital Markets downgraded shares of Ingredion from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, January 8th. They now have a $74.00 price target on the stock, down previously from $75.00. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $73.30.
Shares of Ingredion (NASDAQ:INGR) traded down 2.73% during mid-day trading on Friday, hitting $61.93. The stock had a trading volume of 795,404 shares. Ingredion has a 52 week low of $58.28 and a 52 week high of $74.31. The stock’s 50-day moving average is $65.84 and its 200-day moving average is $66.30. The company has a market cap of $4.749 billion and a P/E ratio of 12.44.
Ingredion (NASDAQ:INGR) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $1.47 earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts predict that Ingredion will post $5.63 earnings per share 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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