Ingredion Incorporated (INGR) Downgraded to Sell at BidaskClub
Ingredion Incorporated (NYSE:INGR) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
Several other research firms have also issued reports on INGR. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Ingredion in a research note on Wednesday, June 14th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Ingredion in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Ingredion presently has an average rating of “Hold” and an average price target of $140.00.
Ingredion (INGR) traded up 0.028% during mid-day trading on Friday, reaching $119.954. The company had a trading volume of 101,990 shares. Ingredion has a 1-year low of $113.07 and a 1-year high of $137.62. The firm has a 50-day moving average of $123.42 and a 200 day moving average of $120.33. The company has a market capitalization of $8.60 billion, a PE ratio of 18.041 and a beta of 0.60.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.03. The business had revenue of $1.46 billion during 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 company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the company earned $1.53 EPS. On average, analysts predict that Ingredion will post $7.60 earnings per share for the current fiscal year.
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In related news, VP James P. Zallie sold 27,972 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the completion of the sale, the vice president now directly owns 29,429 shares of the company’s stock, valued at approximately $3,690,102.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James P. Zallie sold 21,862 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total value of $2,733,624.48. Following the sale, the vice president now directly owns 29,306 shares of the company’s stock, valued at $3,664,422.24. The disclosure for this sale can be found here. Insiders sold a total of 52,882 shares of company stock valued at $6,622,034 over the last ninety days. Corporate insiders own 1.92% of the company’s stock.
Several hedge funds have recently modified their holdings of INGR. BlackRock Inc. lifted its stake in shares of Ingredion by 1,655.4% during the 1st quarter. BlackRock Inc. now owns 8,284,372 shares of the company’s stock worth $997,686,000 after acquiring an additional 7,812,440 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Ingredion by 6,380.0% during the 2nd quarter. Victory Capital Management Inc. now owns 745,917 shares of the company’s stock worth $88,921,000 after acquiring an additional 734,406 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Ingredion by 244.5% during the 2nd quarter. Schroder Investment Management Group now owns 675,062 shares of the company’s stock worth $79,319,000 after acquiring an additional 479,087 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Ingredion by 39.7% during the 1st quarter. Wellington Management Group LLP now owns 1,524,557 shares of the company’s stock worth $183,602,000 after acquiring an additional 433,572 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Ingredion by 2,022.8% during the 2nd quarter. Janus Henderson Group PLC now owns 299,848 shares of the company’s stock worth $35,744,000 after acquiring an additional 285,723 shares during the last quarter. 83.93% of the stock is owned by hedge funds and other institutional investors.
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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