Ingredion Incorporated (INGR) Receives Average Rating of “Hold” from Brokerages
Shares of Ingredion Incorporated (NYSE:INGR) have been assigned an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $141.00.
INGR has been the topic of several research reports. BidaskClub downgraded shares of Ingredion from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BMO Capital Markets reissued a “hold” rating and set a $125.00 price target on shares of Ingredion in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $145.00 price target on shares of Ingredion in a research note on Wednesday, June 14th.
In other Ingredion news, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $125.00, for a total transaction of $381,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.92% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of INGR. National Pension Service increased its stake in shares of Ingredion by 108.9% in the second quarter. National Pension Service now owns 894 shares of the company’s stock worth $105,000 after buying an additional 466 shares during the period. Toronto Dominion Bank increased its stake in shares of Ingredion by 10.6% in the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after buying an additional 91 shares during the period. Assetmark Inc. increased its stake in shares of Ingredion by 105.3% in the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock worth $118,000 after buying an additional 500 shares during the period. Penserra Capital Management LLC increased its stake in shares of Ingredion by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,242 shares of the company’s stock worth $149,000 after buying an additional 108 shares during the period. Finally, Global X Management Co. LLC increased its stake in shares of Ingredion by 30.0% in the first quarter. Global X Management Co. LLC now owns 1,325 shares of the company’s stock worth $160,000 after buying an additional 306 shares during the period. 84.31% of the stock is currently owned by institutional investors.
Shares of Ingredion (NYSE INGR) traded up 0.25% during trading on Friday, reaching $124.23. 242,371 shares of the company’s stock traded hands. Ingredion has a 52-week low of $113.07 and a 52-week high of $137.62. The company’s 50-day moving average is $123.05 and its 200 day moving average is $120.21. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 18.68 and a beta of 0.60.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.86 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The business’s revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $1.53 earnings per share. Equities analysts forecast that Ingredion will post $7.61 EPS for the current year.
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Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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