Ingredion Receives Consensus Recommendation of “Hold” from Brokerages (NASDAQ:INGR)
Shares of Ingredion (NASDAQ:INGR) have earned an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, American Banking & Market News reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $73.30.
Ingredion (NASDAQ:INGR) traded up 0.31% during mid-day trading on Friday, hitting $65.08. The stock had a trading volume of 99,086 shares. Ingredion has a 1-year low of $58.28 and a 1-year high of $74.31. The stock’s 50-day moving average is $64.90 and its 200-day moving average is $66.15. The company has a market cap of $4.836 billion and a price-to-earnings ratio of 12.85.
Ingredion (NASDAQ:INGR) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.35 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $1.47 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts expect that Ingredion will post $5.56 EPS for the current fiscal year.
A number of analysts have recently weighed in on INGR shares. Analysts at BMO Capital Markets cut their price target on shares of Ingredion from $74.00 to $72.00 in a research note on Friday, February 7th. Separately, analysts at BB&T Corp. cut their price target on shares of Ingredion from $78.00 to $75.00 in a research note on Friday, February 7th.
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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