Ingredion Incorporated (INGR) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Ingredion Incorporated (NYSE:INGR) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
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. “
Several other research analysts also recently commented on INGR. BMO Capital Markets reissued a hold rating and set a $125.00 price target on shares of Ingredion in a research note on Tuesday, May 16th. Jefferies Group LLC reissued a buy rating and set a $145.00 price target on shares of Ingredion in a research note on Wednesday, June 14th. Finally, BidaskClub upgraded shares of Ingredion from a strong sell rating to a sell rating in a report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Ingredion presently has a consensus rating of Hold and an average target price of $141.00.
Ingredion (NYSE:INGR) traded up 0.10% during midday trading on Wednesday, reaching $124.84. 484,559 shares of the company’s stock were exchanged. The stock has a market cap of $8.95 billion, a PE ratio of 18.78 and a beta of 0.60. Ingredion has a 12 month low of $113.07 and a 12 month high of $137.62. The firm has a 50 day moving average of $123.36 and a 200-day moving average of $120.31.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.86 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The business’s revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $1.53 earnings per share. On average, equities research analysts predict that Ingredion will post $7.61 earnings per share for the current year.
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In related news, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction on Friday, September 1st. The shares were sold at an average price of $125.00, for a total value of $381,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP James P. Zallie sold 21,862 shares of Ingredion stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the completion of the sale, the vice president now owns 29,306 shares in the company, valued at approximately $3,664,422.24. The disclosure for this sale can be found here. Insiders own 1.92% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. WFG Advisors LP boosted its holdings in Ingredion by 0.4% in the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock valued at $164,000 after acquiring an additional 6 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Ingredion by 10.6% in the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock valued at $113,000 after acquiring an additional 91 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Ingredion by 1.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 29,651 shares of the company’s stock valued at $3,534,000 after buying an additional 288 shares in the last quarter. EagleClaw Capital Managment LLC bought a new stake in shares of Ingredion during the 2nd quarter valued at $253,000. Finally, Linscomb & Williams Inc. boosted its holdings in shares of Ingredion by 1.4% during the 2nd quarter. Linscomb & Williams Inc. now owns 2,209 shares of the company’s stock valued at $263,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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