Ingredion Given Average Recommendation of “Hold” by Brokerages (NASDAQ:INGR)
Ingredion (NASDAQ:INGR) has been given a consensus recommendation of “Hold” by the ten brokerages that are covering the stock, AnalystRatingsNetwork.com reports. Six research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $72.38.
Ingredion (NASDAQ:INGR) traded down 0.67% on Wednesday, hitting $77.21. 79,337 shares of the company’s stock traded hands. Ingredion has a 52-week low of $58.28 and a 52-week high of $79.55. The stock’s 50-day moving average is $77. and its 200-day moving average is $71.61. The company has a market cap of $5.783 billion and a P/E ratio of 16.36.
Ingredion (NASDAQ:INGR) last released its earnings data on Wednesday, July 30th. The company reported $1.35 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.41 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the company posted $1.20 earnings per share. Ingredion’s revenue was down 9.2% compared to the same quarter last year. Analysts expect that Ingredion will post $5.53 EPS for the current fiscal year.
A number of analysts have recently weighed in on INGR shares. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Ingredion in a research note on Thursday, July 31st. They now have a $80.00 price target on the stock, up previously from $71.00. Separately, analysts at Stephens downgraded shares of Ingredion from an “overweight” rating to an “equal weight” rating in a research note on Thursday, July 10th. Finally, 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.
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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