Ingredion Given Consensus Recommendation of “Hold” by Brokerages (NASDAQ:INGR)
Shares of Ingredion (NASDAQ:INGR) have received an average recommendation of “Hold” from the thirteen analysts that are presently covering the company, Stock Ratings Network reports. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $70.60.
In other Ingredion news, CFO Jack C. Fortnum sold 18,400 shares of the stock on the open market in a transaction dated Monday, July 7th. The shares were sold at an average price of $78.20, for a total value of $1,438,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Ingredion (NASDAQ:INGR) opened at 77.42 on Wednesday. Ingredion has a 52 week low of $58.28 and a 52 week high of $78.99. The stock has a 50-day moving average of $76.57 and a 200-day moving average of $69.65. The company has a market cap of $5.774 billion and a price-to-earnings ratio of 16.87.
Ingredion (NASDAQ:INGR) last released its earnings data 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.
A number of analysts have recently weighed in on INGR shares. Analysts at Stephens downgraded shares of Ingredion from an “overweight” rating to an “equal weight” rating in a research note on Thursday. Separately, analysts at BB&T Corp. downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Wednesday, June 18th. Finally, analysts at WallachBeth Capital initiated coverage on shares of Ingredion in a research note on Wednesday, June 18th. They set a “hold” rating and a $16.00 price target on the stock.
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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