Ingredion (NYSE:INGR) Lifted to “Hold” at Zacks Investment Research

Ingredion (NYSE:INGRGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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 equities analysts also recently commented on the stock. StockNews.com downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. TheStreet raised shares of Ingredion from a “c+” rating to a “b-” rating in a report on Tuesday, April 19th. Finally, Credit Suisse Group downgraded shares of Ingredion from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $102.00 to $94.00 in a report on Tuesday, April 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $105.60.

NYSE INGR opened at $86.52 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.78 and a quick ratio of 1.01. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 50.89 and a beta of 0.79. The company’s fifty day moving average is $87.05 and its two-hundred day moving average is $92.51. Ingredion has a 52-week low of $81.25 and a 52-week high of $101.89.

Ingredion (NYSE:INGRGet Rating) last posted its quarterly earnings results on Thursday, February 3rd. The company reported $1.09 earnings per share (EPS) for the quarter. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. Ingredion had a net margin of 1.70% and a return on equity of 15.42%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $1.75 EPS. As a group, sell-side analysts expect that Ingredion will post 7.08 earnings per share for the current fiscal year.

In other news, SVP David Eric Seip purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 4th. The stock was purchased at an average cost of $85.90 per share, with a total value of $429,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 2 shares of company stock valued at $170 over the last three months. 1.68% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in INGR. AGF Investments LLC bought a new position in shares of Ingredion in the fourth quarter worth about $37,000. Lazard Asset Management LLC raised its stake in shares of Ingredion by 140.4% in the fourth quarter. Lazard Asset Management LLC now owns 387 shares of the company’s stock worth $37,000 after acquiring an additional 226 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Ingredion in the fourth quarter worth about $48,000. Johnson Financial Group Inc. raised its stake in shares of Ingredion by 6,450.0% in the fourth quarter. Johnson Financial Group Inc. now owns 524 shares of the company’s stock worth $51,000 after acquiring an additional 516 shares during the last quarter. Finally, Covestor Ltd bought a new position in shares of Ingredion in the fourth quarter worth about $53,000. 86.77% of the stock is owned by institutional investors.

About Ingredion (Get Rating)

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.

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