Ingredion (NYSE:INGR) Earns Buy Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Ingredion (NYSE:INGR – Get Rating) in a research note issued on Thursday. The firm set a “buy” rating on the stock.

Other equities research analysts also recently issued research reports about the company. Credit Suisse Group raised their price target on Ingredion from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, February 9th. Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $100.00 to $120.00 in a report on Tuesday, January 17th. Finally, Barclays downgraded Ingredion from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $105.00 to $110.00 in a report on Monday, January 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $107.25.

Ingredion Trading Down 2.3 %

NYSE INGR opened at $95.04 on Thursday. The stock’s 50-day simple moving average is $99.91 and its two-hundred day simple moving average is $93.69. Ingredion has a twelve month low of $78.81 and a twelve month high of $105.24. The company has a quick ratio of 0.91, a current ratio of 1.76 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 12.95 and a beta of 0.76.

Ingredion (NYSE:INGR – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.20. Ingredion had a return on equity of 15.70% and a net margin of 6.19%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Research analysts forecast that Ingredion will post 8.32 EPS for the current fiscal year.

Insider Transactions at Ingredion

In related news, EVP Jorgen Kokke sold 7,119 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $100.21, for a total value of $713,394.99. Following the sale, the executive vice president now directly owns 36,537 shares of the company’s stock, valued at $3,661,372.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 7,120 shares of company stock worth $713,497. Company insiders own 1.68% of the company’s stock.

Institutional Trading of Ingredion

Several large investors have recently modified their holdings of INGR. Norges Bank bought a new stake in shares of Ingredion in the fourth quarter worth about $62,186,000. Millennium Management LLC boosted its position in Ingredion by 943.1% during the 2nd quarter. Millennium Management LLC now owns 628,246 shares of the company’s stock valued at $55,386,000 after acquiring an additional 568,015 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Ingredion by 4,100.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 340,834 shares of the company’s stock valued at $29,704,000 after acquiring an additional 332,719 shares in the last quarter. First Trust Advisors LP boosted its position in Ingredion by 24.4% during the 3rd quarter. First Trust Advisors LP now owns 1,055,391 shares of the company’s stock valued at $84,980,000 after acquiring an additional 207,300 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Ingredion by 89.7% during the 2nd quarter. Bank of Montreal Can now owns 334,722 shares of the company’s stock valued at $30,523,000 after acquiring an additional 158,303 shares in the last quarter. 85.70% of the stock is owned by institutional investors.

Ingredion Company Profile

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Ingredion, Inc engages in the development, production, and sale of food and beverage ingredients, primarily starches and sweeteners. The firm is involved in transforming corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums, and vegetables into value-added ingredients and biomaterials for the food, beverage, brewing, and other industries.