Analysts Set Ingredion Incorporated (NYSE:INGR) PT at $137.33

Shares of Ingredion Incorporated (NYSE:INGR) have earned an average rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $137.33.

INGR has been the subject of a number of research analyst reports. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. UBS Group increased their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $122.00 to $145.00 in a report on Friday, August 9th. BMO Capital Markets increased their price target on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Finally, Oppenheimer increased their price target on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th.

Ingredion Trading Up 1.1 %

Shares of Ingredion stock opened at $135.68 on Friday. The company has a market capitalization of $8.91 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.23 and a beta of 0.73. The company has a fifty day moving average of $127.91 and a 200 day moving average of $119.88. 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 fifty-two week low of $89.54 and a fifty-two week high of $137.21.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.32 earnings per share. On average, sell-side analysts anticipate that Ingredion will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.20 annualized dividend and a yield of 2.36%. This is an increase from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is presently 32.06%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,070.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The disclosure for this sale can be found here. Insiders sold a total of 26,045 shares of company stock valued at $3,482,491 over the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Ingredion

Institutional investors and hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ingredion during the second quarter valued at approximately $26,000. Jones Financial Companies Lllp purchased a new position in Ingredion during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ingredion during the second quarter valued at approximately $33,000. Finally, Family Firm Inc. purchased a new position in Ingredion during the second quarter valued at approximately $36,000. Institutional investors 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.