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 research analysts have also recently weighed in on INGR. Credit Suisse Group reduced their price target on Ingredion from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. BMO Capital Markets decreased their target price on shares of Ingredion from $104.00 to $93.00 and set a “market perform” rating for the company in a research note on Wednesday, May 6th. TheStreet lowered shares of Ingredion from a “b” rating to a “c+” rating in a research report on Wednesday, March 11th. Goldman Sachs Group raised shares of Ingredion from a “sell” rating to a “neutral” rating and cut their price objective for the company from $79.00 to $74.00 in a report on Thursday, March 26th. Finally, ValuEngine lowered shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Ingredion has an average rating of “Hold” and a consensus target price of $92.67.
Shares of NYSE:INGR traded down $3.60 during midday trading on Tuesday, reaching $82.79. The company’s stock had a trading volume of 10,602 shares, compared to its average volume of 568,777. The company has a quick ratio of 1.42, a current ratio of 2.34 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average of $81.91 and a 200 day moving average of $84.94. Ingredion has a twelve month low of $59.11 and a twelve month high of $99.51. The firm has a market capitalization of $5.81 billion, a PE ratio of 14.52 and a beta of 0.77.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.52 by $0.07. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.44 billion. Ingredion had a net margin of 6.49% and a return on equity of 17.07%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.54 earnings per share. Sell-side analysts anticipate that Ingredion will post 6.58 earnings per share for the current fiscal year.
In related news, Director Stephan B. Tanda acquired 985 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $81.04 per share, with a total value of $79,824.40. Following the completion of the acquisition, the director now directly owns 2,318 shares in the company, valued at approximately $187,850.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.15% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. LSV Asset Management raised its holdings in shares of Ingredion by 4.8% during the fourth quarter. LSV Asset Management now owns 3,223,553 shares of the company’s stock valued at $299,629,000 after acquiring an additional 148,589 shares during the last quarter. State Street Corp increased its position in shares of Ingredion by 4.3% during the fourth quarter. State Street Corp now owns 2,740,618 shares of the company’s stock worth $256,445,000 after purchasing an additional 111,767 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Ingredion by 44.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,048,682 shares of the company’s stock valued at $154,675,000 after purchasing an additional 629,284 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Ingredion by 37.3% in the 4th quarter. AQR Capital Management LLC now owns 1,866,667 shares of the company’s stock valued at $173,077,000 after purchasing an additional 507,195 shares in the last quarter. Finally, AJO LP boosted its stake in Ingredion by 13.8% during the 4th quarter. AJO LP now owns 1,406,235 shares of the company’s stock worth $130,708,000 after purchasing an additional 170,056 shares during the last quarter. Institutional investors own 85.35% of the company’s stock.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
Featured Article: High-Yield Dividend Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ingredion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion and related companies with MarketBeat.com's FREE daily email newsletter.