Ingredion (INGR) Upgraded at Zacks Investment Research
Ingredion (NYSE:INGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $152.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.44% from the stock’s current price.
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. “
Other equities research analysts have also issued research reports about the stock. Credit Suisse Group set a $156.00 price target on shares of Ingredion and gave the company a “buy” rating in a research note on Wednesday, January 10th. Jefferies Group set a $145.00 price target on shares of Ingredion and gave the company a “buy” rating in a research note on Sunday, October 29th. BidaskClub upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. BMO Capital Markets restated a “hold” rating and issued a $125.00 price target on shares of Ingredion in a research note on Friday, September 29th. Finally, Stephens upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $144.50.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.04 by $0.17. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $1.96 earnings per share. Ingredion’s revenue was down .3% compared to the same quarter last year. sell-side analysts anticipate that Ingredion will post 7.73 EPS for the current fiscal year.
In other news, SVP Jorgen Kokke sold 20,674 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $133.00, for a total value of $2,749,642.00. Following the completion of the transaction, the senior vice president now directly owns 23,119 shares in the company, valued at $3,074,827. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.92% of the company’s stock.
Several institutional investors have recently bought and sold shares of INGR. Toronto Dominion Bank boosted its holdings in Ingredion by 10.6% during the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after buying an additional 91 shares in the last quarter. WFG Advisors LP boosted its holdings in Ingredion by 0.4% during the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after buying an additional 6 shares in the last quarter. Fieldpoint Private Securities LLC bought a new stake in Ingredion during the third quarter worth approximately $173,000. Csenge Advisory Group acquired a new position in Ingredion in the 3rd quarter worth approximately $237,000. Finally, EagleClaw Capital Managment LLC acquired a new position in Ingredion in the 2nd quarter worth approximately $253,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
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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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