Ingredion (INGR) Upgraded to “Buy” at Zacks Investment Research

Ingredion (NYSE:INGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $158.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 8.19% from the stock’s current price.

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. “

Several other analysts have also commented on the company. Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating in a report on Wednesday, November 15th. Jefferies Group set a $145.00 price objective on Ingredion and gave the company a “buy” rating in a report on Sunday, October 29th. Credit Suisse Group reiterated an “outperform” rating and set a $145.00 price objective (up previously from $140.00) on shares of Ingredion in a report on Thursday, November 2nd. BidaskClub upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Finally, BMO Capital Markets restated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a research note on Friday, September 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $146.00.

Shares of Ingredion (NYSE INGR) traded up $4.41 on Wednesday, hitting $146.04. The stock had a trading volume of 859,087 shares, compared to its average volume of 312,465. Ingredion has a 12-month low of $113.07 and a 12-month high of $146.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 2.41. The stock has a market cap of $10,178.24, a price-to-earnings ratio of 20.92, a PEG ratio of 1.53 and a beta of 0.72.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.04 by $0.17. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business posted $1.96 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. research analysts forecast that Ingredion will post 7.73 earnings per share for the current fiscal year.

In other Ingredion news, SVP Jorgen Kokke sold 20,674 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the sale, the senior vice president now directly owns 23,119 shares of the company’s stock, valued at approximately $3,074,827. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.92% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Ingredion by 87.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,396,952 shares of the company’s stock valued at $168,528,000 after acquiring an additional 651,035 shares during the period. Principal Financial Group Inc. grew its position in shares of Ingredion by 19.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,215,767 shares of the company’s stock valued at $146,670,000 after acquiring an additional 193,722 shares during the period. Allianz Asset Management GmbH grew its position in shares of Ingredion by 2.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,156,251 shares of the company’s stock valued at $139,491,000 after acquiring an additional 24,174 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Ingredion by 1.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 999,894 shares of the company’s stock valued at $119,197,000 after acquiring an additional 16,793 shares during the period. Finally, Check Capital Management Inc. CA grew its position in shares of Ingredion by 98.7% during the 3rd quarter. Check Capital Management Inc. CA now owns 857,289 shares of the company’s stock valued at $103,423,000 after acquiring an additional 425,835 shares during the period. Hedge funds and other institutional investors own 84.51% of the company’s stock.

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Ingredion Company Profile

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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