Ingredion (NYSE:INGR) Price Target Raised to $147.00 at BMO Capital Markets

Ingredion (NYSE:INGR) had its price objective increased by stock analysts at BMO Capital Markets from $128.00 to $147.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential downside of 3.93% from the stock’s current price.

INGR has been the topic of a number of other research reports. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a 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. Oppenheimer raised their price objective on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Barclays upped their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.00.

Ingredion Stock Performance

Ingredion stock traded down $1.85 during trading hours on Wednesday, reaching $153.01. 310,219 shares of the stock were exchanged, compared to its average volume of 374,507. Ingredion has a 52-week low of $96.20 and a 52-week high of $155.44. The stock has a market cap of $9.95 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.21 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The firm’s 50 day moving average is $135.21 and its 200 day moving average is $124.75.

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

Insider Activity

In related news, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO James P. Zallie sold 1,300 shares of Ingredion stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total transaction of $174,239.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,595.90. This trade 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. Also, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $134.02, for a total transaction of $134,020.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,356 shares of company stock worth $3,400,709 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of INGR. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Ingredion in the second quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its stake in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ingredion in the 2nd quarter worth about $33,000. Family Firm Inc. acquired a new position in shares of Ingredion during the 2nd quarter valued at about $36,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Ingredion during the 2nd quarter worth about $36,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.