Ingredion (NYSE:INGR) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Ingredion (NYSE:INGRGet Rating) from a hold rating to a buy rating in a research note released on Friday morning.

Other equities research analysts also recently issued research reports about the stock. TheStreet raised shares of Ingredion from a c+ rating to a b- rating in a report on Tuesday, April 19th. 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. Finally, Zacks Investment Research upgraded shares of Ingredion from a sell rating to a hold rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ingredion presently has a consensus rating of Buy and an average target price of $105.60.

Shares of INGR traded down $0.11 during midday trading on Friday, hitting $88.31. 522,042 shares of the stock traded hands, compared to its average volume of 327,545. Ingredion has a 1-year low of $81.25 and a 1-year high of $101.89. The firm has a market capitalization of $5.87 billion, a PE ratio of 12.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.78. The business’s 50 day moving average price is $87.04 and its two-hundred day moving average price is $92.38.

Ingredion (NYSE:INGRGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.14. Ingredion had a net margin of 1.70% and a return on equity of 15.42%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, equities research analysts forecast that Ingredion will post 7.08 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Investors of record on Friday, April 1st were paid a $0.65 dividend. The ex-dividend date was Thursday, March 31st. This represents a $2.60 annualized dividend and a dividend yield of 2.94%. Ingredion’s payout ratio is 35.71%.

Several hedge funds and other institutional investors have recently made changes to their positions in INGR. MCF Advisors LLC bought a new stake in shares of Ingredion in the 1st quarter valued at approximately $35,000. AGF Investments LLC acquired a new stake in Ingredion in the 4th quarter worth $37,000. Lazard Asset Management LLC grew its position in Ingredion by 140.4% in the 4th quarter. Lazard Asset Management LLC now owns 387 shares of the company’s stock worth $37,000 after purchasing an additional 226 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Ingredion in the 4th quarter worth $48,000. Finally, Johnson Financial Group Inc. boosted its position in shares of Ingredion by 6,450.0% during the 4th quarter. Johnson Financial Group Inc. now owns 524 shares of the company’s stock valued at $51,000 after acquiring an additional 516 shares in the last quarter. 86.77% of the stock is owned by institutional investors and hedge funds.

Ingredion Company Profile (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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