Brokerages Set Ingredion Incorporated (NYSE:INGR) Price Target at $124.33

Ingredion Incorporated (NYSE:INGR) has been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $124.3333.

A number of equities research analysts recently issued reports on INGR shares. Stephens dropped their price target on shares of Ingredion from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Industrial Alliance Securities set a $124.00 price target on shares of Ingredion in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingredion in a research note on Monday, December 29th. UBS Group dropped their price target on Ingredion from $130.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Finally, Oppenheimer set a $136.00 price objective on Ingredion in a report on Wednesday, October 22nd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. WPG Advisers LLC grew its holdings in shares of Ingredion by 100.8% in the third quarter. WPG Advisers LLC now owns 245 shares of the company’s stock valued at $30,000 after purchasing an additional 123 shares during the period. Hantz Financial Services Inc. boosted its holdings in Ingredion by 810.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $35,000 after purchasing an additional 227 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Ingredion in the 2nd quarter valued at approximately $40,000. Root Financial Partners LLC acquired a new stake in Ingredion during the third quarter worth $36,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Ingredion during the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion Stock Up 1.1%

INGR stock opened at $111.57 on Friday. The firm has a market cap of $7.09 billion, a PE ratio of 11.12, a P/E/G ratio of 0.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.79 and a current ratio of 2.75. The firm’s fifty day moving average is $109.54 and its 200 day moving average is $121.22. Ingredion has a one year low of $102.31 and a one year high of $141.78.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.02. Ingredion had a return on equity of 18.14% and a net margin of 9.07%.The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, research analysts forecast that Ingredion will post 11.14 EPS for the current year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Friday, January 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Ingredion’s dividend payout ratio (DPR) is 32.70%.

About Ingredion

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.