Ingredion Incorporated (INGR) Stock Rating Upgraded by Zacks Investment Research
Ingredion Incorporated (NYSE:INGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $139.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.89% from the company’s previous close.
According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
A number of other brokerages have also issued reports on INGR. BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. BMO Capital Markets reissued a “hold” rating and issued a $125.00 target price on shares of Ingredion in a research report on Tuesday, May 16th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $145.00 target price on shares of Ingredion in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Ingredion has a consensus rating of “Hold” and an average target price of $141.00.
Shares of Ingredion (INGR) traded up 0.25% during trading on Wednesday, reaching $124.23. The company had a trading volume of 242,371 shares. The stock’s 50-day moving average price is $123.05 and its 200-day moving average price is $120.21. The company has a market capitalization of $8.91 billion, a PE ratio of 18.51 and a beta of 0.60. Ingredion has a 52 week low of $113.07 and a 52 week high of $138.20.
Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.03. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.53 earnings per share. On average, equities analysts expect that Ingredion will post $7.61 EPS for the current fiscal year.
In other news, VP James P. Zallie sold 3,048 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $125.00, for a total transaction of $381,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.92% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. BKD Wealth Advisors LLC increased its position in shares of Ingredion by 6.1% during the second quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock worth $293,000 after acquiring an additional 141 shares during the period. Assetmark Inc. increased its position in shares of Ingredion by 105.3% during the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock worth $118,000 after acquiring an additional 500 shares during the period. Swiss National Bank increased its position in shares of Ingredion by 28.8% during the first quarter. Swiss National Bank now owns 256,600 shares of the company’s stock worth $30,902,000 after acquiring an additional 57,400 shares during the period. Mason Street Advisors LLC increased its position in shares of Ingredion by 0.4% during the first quarter. Mason Street Advisors LLC now owns 33,915 shares of the company’s stock worth $4,084,000 after acquiring an additional 124 shares during the period. Finally, Morgan Stanley increased its position in shares of Ingredion by 41.1% during the first quarter. Morgan Stanley now owns 479,495 shares of the company’s stock worth $57,744,000 after acquiring an additional 139,632 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ingredion Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.