Ingredion (NYSE:INGR) Downgraded by Zacks Investment Research to “Sell”

Ingredion (NYSE:INGRGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday, 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. “

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday, May 14th. TheStreet raised shares of Ingredion from a “c+” rating to a “b-” rating in a report on Tuesday, April 19th. Finally, Credit Suisse Group cut shares of Ingredion from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $102.00 to $94.00 in a report on Tuesday, April 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $107.00.

INGR traded down $0.26 on Friday, hitting $91.82. 326,059 shares of the stock were exchanged, compared to its average volume of 415,947. Ingredion has a 12 month low of $81.25 and a 12 month high of $101.89. The business has a 50-day moving average of $88.11 and a two-hundred day moving average of $92.02. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.82 and a quick ratio of 1.06. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 12.61 and a beta of 0.79.

Ingredion (NYSE:INGRGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.14. Ingredion had a net margin of 6.87% and a return on equity of 14.80%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business posted $1.85 earnings per share. Ingredion’s revenue was up 17.2% compared to the same quarter last year. Equities research analysts expect that Ingredion will post 7.08 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in Ingredion by 7.6% in the 3rd quarter. CIBC Asset Management Inc now owns 2,656 shares of the company’s stock valued at $236,000 after buying an additional 187 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Ingredion by 20.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 10,628 shares of the company’s stock valued at $946,000 after buying an additional 1,806 shares during the last quarter. IndexIQ Advisors LLC raised its holdings in Ingredion by 270.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 1,014 shares of the company’s stock valued at $90,000 after buying an additional 740 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Ingredion by 212.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 77,398 shares of the company’s stock valued at $6,890,000 after buying an additional 52,631 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in Ingredion by 0.8% in the 3rd quarter. Panagora Asset Management Inc. now owns 16,060 shares of the company’s stock valued at $1,430,000 after buying an additional 132 shares during the last quarter. 86.77% of the stock is owned by hedge funds and other institutional investors.

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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