Ingredion PT Raised to $84.00 at Standpoint Research (INGR)
Investment analysts at Standpoint Research raised their price target on shares of Ingredion (NASDAQ:INGR) from $72.00 to $84.00 in a note issued to investors on Friday, AmericanBankingNews.com reports. The firm currently has a “buy” rating on the stock. Standpoint Research’s price objective would suggest a potential upside of 13.48% from the company’s current price.
Shares of Ingredion (NASDAQ:INGR) traded up 0.43% during mid-day trading on Friday, hitting $74.34. 112,231 shares of the company’s stock traded hands. Ingredion has a 52-week low of $58.28 and a 52-week high of $75.23. The stock’s 50-day moving average is $69.41 and its 200-day moving average is $67.28. The company has a market cap of $5.544 billion and a price-to-earnings ratio of 16.08.
Ingredion (NASDAQ:INGR) last announced its earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.70. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, analysts predict that Ingredion will post $5.52 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Ingredion in a research note on Thursday, May 1st. They now have a $71.00 price target on the stock. Analysts at Credit Suisse initiated coverage on shares of Ingredion in a research note on Wednesday, April 16th. They set an “outperform” rating and a $80.00 price target on the stock. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Ingredion currently has a consensus rating of “Hold” and an average price target of $73.27.
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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