Ingredion Incorporated (INGR) Receives $126.60 Consensus Price Target from Brokerages
Ingredion Incorporated (NYSE:INGR) has been assigned an average rating of “Hold” from the eight research firms that are currently covering the firm. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $126.60.
Several analysts have recently issued reports on the company. Zacks Investment Research downgraded Ingredion from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Jefferies Group decreased their target price on Ingredion from $152.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Finally, Credit Suisse Group increased their target price on Ingredion from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, November 3rd.
Shares of Ingredion (NYSE:INGR) opened at 126.45 on Wednesday. The firm has a market capitalization of $9.16 billion, a P/E ratio of 18.84 and a beta of 0.74. The stock has a 50 day moving average price of $123.78 and a 200 day moving average price of $129.62. Ingredion has a 12-month low of $84.57 and a 12-month high of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.18. The company earned $1.49 billion during the quarter, compared to the consensus estimate of $1.45 billion. Ingredion had a return on equity of 21.14% and a net margin of 8.50%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 EPS. Equities analysts anticipate that Ingredion will post $7.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Friday, December 30th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, December 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.58%. Ingredion’s payout ratio is presently 30.03%.
Several institutional investors have recently modified their holdings of the company. Eagle Asset Management Inc. bought a new position in shares of Ingredion during the second quarter worth about $2,323,000. Nordea Investment Management AB bought a new position in shares of Ingredion during the second quarter worth about $277,000. IBM Retirement Fund boosted its position in shares of Ingredion by 18.1% in the second quarter. IBM Retirement Fund now owns 8,503 shares of the company’s stock worth $1,148,000 after buying an additional 1,303 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of Ingredion by 163.3% in the second quarter. LS Investment Advisors LLC now owns 6,657 shares of the company’s stock worth $861,000 after buying an additional 4,129 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its position in shares of Ingredion by 5.5% in the second quarter. CIBC World Markets Inc. now owns 8,855 shares of the company’s stock worth $1,146,000 after buying an additional 459 shares during the last quarter. 85.15% of the stock is owned by institutional investors and hedge funds.
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Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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