Ingredion Rating Lowered to Hold at BB&T Corp. (INGR)
INGR has been the subject of a number of other recent research reports. Analysts at WallachBeth Capital initiated coverage on shares of Ingredion in a research note on Wednesday. They set a “hold” rating and a $16.00 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Ingredion in a research note on Tuesday. They set a “buy” rating and a $95.00 price target on the stock. Finally, analysts at KeyCorp raised their price target on shares of Ingredion from $75.00 to $95.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $70.60.
Shares of Ingredion (NASDAQ:INGR) opened at 77.51 on Wednesday. Ingredion has a 52 week low of $58.28 and a 52 week high of $77.59. The stock has a 50-day moving average of $74.48 and a 200-day moving average of $68.50. The company has a market cap of $5.781 billion and a price-to-earnings ratio of 16.44.
Ingredion (NASDAQ:INGR) last announced its earnings results on Wednesday, April 30th. The company reported $0.96 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.41 earnings per share. The company’s quarterly revenue 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.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 25th. Shareholders of record on Monday, June 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, June 26th.
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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