Ingredion Incorporated (NYSE:INGR) Receives Consensus Rating of “Hold” from Analysts

Posted by Defense World Staff on Mar 14th, 2023

Ingredion Incorporated (NYSE:INGR – Get Rating) has earned an average recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $107.25.

Several research analysts have issued reports on INGR shares. Barclays lowered Ingredion from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $105.00 to $110.00 in a research report on Monday, January 23rd. Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $100.00 to $120.00 in a research report on Tuesday, January 17th. Credit Suisse Group boosted their target price on Ingredion from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, February 9th. Finally, StockNews.com upgraded Ingredion from a “hold” rating to a “buy” rating in a research report on Thursday, November 17th.

Insiders Place Their Bets

In other Ingredion news, EVP Jorgen Kokke sold 7,119 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $100.21, for a total transaction of $713,394.99. Following the completion of the sale, the executive vice president now owns 36,537 shares in the company, valued at $3,661,372.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 7,120 shares of company stock worth $713,497 over the last 90 days. Company insiders own 1.68% of the company’s stock.

Hedge Funds Weigh In On Ingredion

Large investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC acquired a new position in shares of Ingredion during the second quarter worth $26,000. Group One Trading L.P. purchased a new stake in Ingredion during the 4th quarter valued at about $27,000. Ellevest Inc. acquired a new position in shares of Ingredion in the third quarter valued at about $32,000. Wipfli Financial Advisors LLC acquired a new position in shares of Ingredion in the third quarter valued at about $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Ingredion in the fourth quarter worth about $35,000. 85.70% of the stock is owned by institutional investors and hedge funds.

Ingredion Trading Down 0.8 %

Shares of NYSE INGR opened at $95.07 on Tuesday. The business’s 50 day moving average is $99.98 and its two-hundred day moving average is $93.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.76 and a quick ratio of 0.91. Ingredion has a 1-year low of $78.81 and a 1-year high of $105.24. The stock has a market capitalization of $6.27 billion, a P/E ratio of 12.95 and a beta of 0.76.

Ingredion (NYSE:INGR – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.20. Ingredion had a return on equity of 15.70% and a net margin of 6.19%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, research analysts expect that Ingredion will post 8.32 EPS for the current year.

Ingredion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 24th. Shareholders of record on Monday, January 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Thursday, December 29th. This represents a $2.84 dividend on an annualized basis and a yield of 2.99%. Ingredion’s dividend payout ratio is currently 38.69%.

Ingredion Company Profile

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Ingredion, Inc engages in the development, production, and sale of food and beverage ingredients, primarily starches and sweeteners. The firm is involved in transforming corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums, and vegetables into value-added ingredients and biomaterials for the food, beverage, brewing, and other industries.