Ingredion Sets New 12-Month High at $79.69 (INGR)
Ingredion (NASDAQ:INGR) hit a new 52-week high during trading on Friday , American Banking News.com reports. The company traded as high as $79.69 and last traded at $79.65, with a volume of 188,833 shares changing hands. The stock had previously closed at $78.49.
Several analysts have recently commented on the stock. 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. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $72.38.
The stock’s 50-day moving average is $77.34 and its 200-day moving average is $72.41. The company has a market cap of $5.968 billion and a price-to-earnings ratio of 16.52.
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. On average, analysts predict that Ingredion will post $5.53 earnings per share 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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