Ingredion (NYSE:INGR) Price Target Raised to $178.00

Ingredion (NYSE:INGR) had its price objective raised by equities researchers at Oppenheimer from $147.00 to $178.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 15.00% from the company’s previous close.

INGR has been the topic of a number of other research reports. UBS Group upped their price objective on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets upped their price objective on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $122.00 to $145.00 in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and six 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 price target of $144.00.

Ingredion Trading Up 15.5 %

NYSE INGR opened at $154.78 on Wednesday. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.21 and a beta of 0.73. The stock’s 50 day moving average price is $135.21 and its two-hundred day moving average price is $124.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. Ingredion has a 52 week low of $95.07 and a 52 week high of $154.87.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.33 EPS. As a group, analysts anticipate that Ingredion will post 10.05 earnings per share for the current fiscal year.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 371 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the sale, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 1,300 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James P. Zallie sold 371 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,356 shares of company stock valued at $3,400,709. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingredion

Several large investors have recently bought and sold shares of INGR. Thurston Springer Miller Herd & Titak Inc. bought a new position in Ingredion in the second quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its position in shares of Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ingredion during the second quarter worth about $33,000. Family Firm Inc. bought a new position in shares of Ingredion during the second quarter worth about $36,000. Finally, International Assets Investment Management LLC bought a new position in shares of Ingredion during the second quarter worth about $36,000. 85.27% of the stock is currently owned by institutional investors.

About Ingredion

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.