Ingredion (NYSE:INGR) Downgraded to Buy at StockNews.com

StockNews.com lowered shares of Ingredion (NYSE:INGRFree Report) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.

Other equities analysts have also recently issued reports about the company. Barclays increased their price target on Ingredion from $115.00 to $122.00 and gave the company an equal weight rating in a report on Wednesday, March 6th. The Goldman Sachs Group raised Ingredion from a neutral rating to a buy rating and increased their price target for the company from $122.00 to $135.00 in a report on Thursday, February 15th. Stephens reissued an overweight rating and set a $130.00 price target on shares of Ingredion in a report on Wednesday, February 7th. Finally, BMO Capital Markets increased their price target on Ingredion from $117.00 to $120.00 and gave the company a market perform rating in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Ingredion currently has a consensus rating of Moderate Buy and a consensus target price of $127.17.

View Our Latest Research Report on INGR

Ingredion Stock Performance

Shares of INGR opened at $115.85 on Wednesday. The stock has a market cap of $7.61 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.09 and a beta of 0.74. Ingredion has a 52 week low of $89.54 and a 52 week high of $122.18. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average price is $115.70 and its 200-day moving average price is $112.24.

Ingredion (NYSE:INGRGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.08. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Ingredion had a return on equity of 16.56% and a net margin of 8.45%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.80 EPS. Equities research analysts anticipate that Ingredion will post 9.76 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 1st will be paid a $0.78 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $3.12 annualized dividend and a dividend yield of 2.69%. Ingredion’s dividend payout ratio (DPR) is 31.26%.

Insiders Place Their Bets

In other Ingredion news, CFO James D. Gray sold 8,490 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $121.74, for a total value of $1,033,572.60. Following the completion of the sale, the chief financial officer now owns 42,833 shares in the company, valued at approximately $5,214,489.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO James D. Gray sold 8,490 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the transaction, the chief financial officer now owns 42,833 shares in the company, valued at $5,214,489.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James P. Zallie sold 27,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $116.36, for a total value of $3,199,900.00. Following the transaction, the chief executive officer now owns 52,197 shares of the company’s stock, valued at approximately $6,073,642.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,361 shares of company stock worth $4,515,876. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INGR. Jones Financial Companies Lllp bought a new position in shares of Ingredion in the 4th quarter valued at about $25,000. Cary Street Partners Investment Advisory LLC lifted its stake in Ingredion by 63.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock worth $37,000 after purchasing an additional 147 shares during the last quarter. Blue Trust Inc. lifted its stake in Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after purchasing an additional 103 shares during the last quarter. National Bank of Canada FI lifted its stake in Ingredion by 59.8% in the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock worth $47,000 after purchasing an additional 159 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in Ingredion in the first quarter worth about $65,000. Institutional investors own 85.27% of the company’s stock.

Ingredion Company Profile

(Get Free Report)

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.

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Analyst Recommendations for Ingredion (NYSE:INGR)

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