Ingredion Receives Consensus Rating of “Hold” from Brokerages (NASDAQ:INGR)
Ingredion (NASDAQ:INGR) has received an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, AmericanBankingNews.com reports. Six investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $72.38.
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 (NASDAQ:INGR) opened at 78.08 on Wednesday. Ingredion has a 1-year low of $58.28 and a 1-year high of $79.55. The stock’s 50-day moving average is $77.2 and its 200-day moving average is $71.91. The company has a market cap of $5.848 billion and a price-to-earnings ratio of 16.51.
Ingredion (NASDAQ:INGR) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.35 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $1.20 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. Analysts expect that Ingredion will post $5.53 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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