Oppenheimer Cuts Ingredion (NYSE:INGR) Price Target to $155.00

Ingredion (NYSE:INGR) had its price target reduced by Oppenheimer from $167.00 to $155.00 in a research note released on Tuesday, MarketBeat reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. UBS Group reissued a “neutral” rating and issued a $145.00 price target (down previously from $165.00) on shares of Ingredion in a research note on Monday, April 7th. Stephens lowered their price target on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. BMO Capital Markets dropped their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Finally, StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Ingredion has an average rating of “Moderate Buy” and an average price target of $152.20.

Ingredion Stock Performance

Shares of Ingredion stock opened at $129.93 on Tuesday. The company’s 50 day moving average price is $130.70 and its two-hundred day moving average price is $135.63. The firm has a market capitalization of $8.35 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.03 and a beta of 0.72. Ingredion has a fifty-two week low of $111.54 and a fifty-two week high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. Ingredion’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS. On average, equities analysts forecast that Ingredion will post 11.14 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.46%. Ingredion’s dividend payout ratio is currently 32.96%.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the transaction, the chief executive officer now directly owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. This represents a 24.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ingredion

A number of hedge funds have recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. acquired a new stake in Ingredion in the 4th quarter valued at $25,000. Alpine Bank Wealth Management bought a new position in shares of Ingredion in the first quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Ingredion during the fourth quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ingredion by 653.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock worth $31,000 after acquiring an additional 196 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in shares of Ingredion in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Company Profile

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.