Ingredion Incorporated (NYSE:INGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, September 1st.
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. “
A number of other analysts have also weighed in on INGR. BidaskClub lowered Ingredion from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. BMO Capital Markets reissued a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $145.00 price objective on shares of Ingredion in a research note on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $141.00.
Shares of Ingredion (NYSE:INGR) opened at 124.84 on Friday. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 18.78 and a beta of 0.60. Ingredion has a 52 week low of $113.07 and a 52 week high of $137.62. The firm’s 50 day moving average is $123.36 and its 200-day moving average is $120.31.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $1.53 earnings per share. Ingredion’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts predict that Ingredion will post $7.61 EPS for the current year.
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In other Ingredion news, VP James P. Zallie sold 21,862 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the completion of the transaction, the vice president now owns 29,306 shares of the company’s stock, valued at $3,664,422.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.92% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. BKD Wealth Advisors LLC lifted its position in Ingredion by 6.1% during the second quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock valued at $293,000 after buying an additional 141 shares during the period. Assetmark Inc. increased its holdings in shares of Ingredion by 105.3% during the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock valued at $118,000 after acquiring an additional 500 shares in the last quarter. Tobam bought a new position in shares of Ingredion during the second quarter valued at $938,000. Swiss National Bank increased its holdings in shares of Ingredion by 28.8% during the first quarter. Swiss National Bank now owns 256,600 shares of the company’s stock valued at $30,902,000 after acquiring an additional 57,400 shares in the last quarter. Finally, Mason Street Advisors LLC increased its holdings in shares of Ingredion by 0.4% during the first quarter. Mason Street Advisors LLC now owns 33,915 shares of the company’s stock valued at $4,084,000 after acquiring an additional 124 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.
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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