Ingredion Sets New 1-Year High at $79.22 (INGR)
Ingredion (NASDAQ:INGR) shares reached a new 52-week high on Thursday , Analyst Ratings Network.com reports. The stock traded as high as $79.22 and last traded at $79.06, with a volume of 109,677 shares changing hands. The stock had previously closed at $78.48.
Several analysts have recently commented on the stock. Analysts at Stephens downgraded shares of Ingredion from an “overweight” rating to an “equal weight” rating in a research note on Thursday, July 10th. 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. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $70.60.
The stock’s 50-day moving average is $77.06 and its 200-day moving average is $70.2. The company has a market cap of $5.894 billion and a P/E ratio of 17.05.
Ingredion (NASDAQ:INGR) last posted its quarterly 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. Analysts expect that Ingredion will post $5.52 EPS for the current fiscal year.
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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