Brokerages Set Ingredion Incorporated (NYSE:INGR) PT at $155.17

Shares of Ingredion Incorporated (NYSE:INGR) have received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $155.17.

A number of research analysts have recently issued reports on INGR shares. Oppenheimer lifted their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. UBS Group lifted their price objective on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Barclays lifted their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets increased their price objective on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th.

Insider Activity at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now directly owns 12,795 shares in the company, valued at $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 371 shares of Ingredion stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,197 shares of company stock worth $9,702,315 over the last 90 days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ingredion

Several hedge funds have recently added to or reduced their stakes in INGR. Dimensional Fund Advisors LP increased its stake in Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after purchasing an additional 125,543 shares in the last quarter. State Street Corp grew its holdings in shares of Ingredion by 0.8% in the 3rd quarter. State Street Corp now owns 2,436,601 shares of the company’s stock valued at $334,862,000 after buying an additional 19,560 shares during the period. Pacer Advisors Inc. increased its position in shares of Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after buying an additional 846,967 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Ingredion by 2.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock worth $211,529,000 after buying an additional 36,421 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Ingredion by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,167,693 shares of the company’s stock worth $160,516,000 after acquiring an additional 19,064 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Stock Performance

Shares of NYSE:INGR opened at $148.19 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The business’s fifty day moving average price is $139.84 and its two-hundred day moving average price is $128.84. Ingredion has a fifty-two week low of $104.52 and a fifty-two week high of $155.44. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, analysts predict that Ingredion will post 10.6 EPS for the current fiscal year.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.