Ingredion (INGR) Raised to “Hold” at Zacks Investment Research
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. “
INGR has been the topic of a number of other reports. Seaport Global Securities started coverage on Ingredion in a research note on Thursday, February 21st. They issued a “buy” rating on the stock. ValuEngine lowered Ingredion from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Vertical Group lowered Ingredion from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, TheStreet lowered Ingredion from a “b-” rating to a “c+” rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $118.50.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.12). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. Ingredion had a return on equity of 17.18% and a net margin of 6.70%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 earnings per share. Analysts anticipate that Ingredion will post 6.95 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of INGR. Oregon Public Employees Retirement Fund increased its stake in shares of Ingredion by 10,975.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock worth $50,000 after purchasing an additional 4,498,125 shares during the period. Norges Bank acquired a new stake in Ingredion during the fourth quarter worth about $58,054,000. FMR LLC grew its position in Ingredion by 36.5% during the fourth quarter. FMR LLC now owns 2,020,943 shares of the company’s stock worth $184,714,000 after buying an additional 540,698 shares in the last quarter. Bank of New York Mellon Corp grew its position in Ingredion by 26.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,085,995 shares of the company’s stock worth $190,659,000 after buying an additional 437,284 shares in the last quarter. Finally, Ardevora Asset Management LLP grew its position in Ingredion by 1,291.0% during the fourth quarter. Ardevora Asset Management LLP now owns 370,400 shares of the company’s stock worth $33,855,000 after buying an additional 343,771 shares in the last quarter. Institutional investors and hedge funds own 87.59% 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.
Recommended Story: Can systematic risk be avoided?
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.