Ingredion Price Target Lowered to $72.00 at BMO Capital Markets (INGR)
Research analysts at BMO Capital Markets lowered their target price on shares of Ingredion (NASDAQ:INGR) from $74.00 to $72.00 in a report released on Friday, Analyst Ratings Network reports. BMO Capital Markets’ price objective suggests a potential upside of 16.26% from the company’s current price.
Shares of Ingredion (NASDAQ:INGR) traded down 2.73% during mid-day trading on Friday, hitting $61.93. 795,404 shares of the company’s stock traded hands. Ingredion has a one year low of $58.28 and a one year high of $74.31. The stock’s 50-day moving average is $65.69 and its 200-day moving average is $66.29. 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. Analysts expect that Ingredion will post $5.63 EPS for the current fiscal year.
Separately, analysts at BB&T Corp. cut their price target on shares of Ingredion from $78.00 to $75.00 in a research note to investors on Friday. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $73.30.
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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