Ingredion Lowered to Hold at Standpoint Research (INGR)
INGR has been the subject of a number of other recent research reports. 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. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Ingredion presently has an average rating of “Hold” and an average target price of $70.71.
Shares of Ingredion (NASDAQ:INGR) traded down 0.46% on Wednesday, hitting $79.37. The stock had a trading volume of 342,163 shares. Ingredion has a 52 week low of $58.28 and a 52 week high of $80.00. The stock’s 50-day moving average is $77.46 and its 200-day moving average is $72.84. The company has a market cap of $5.945 billion and a P/E ratio of 16.78.
Ingredion (NASDAQ:INGR) last issued its quarterly 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. 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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