Ingredion (NYSE:INGR) Price Target Lowered to $150.00 at Stephens

Ingredion (NYSE:INGR) had its target price lowered by research analysts at Stephens from $155.00 to $150.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Stephens’ price target points to a potential upside of 18.86% from the company’s current price.

Several other analysts have also weighed in on the stock. UBS Group boosted their target price on shares of Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays boosted their target price on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets reduced their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Oppenheimer boosted their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.17.

Ingredion Stock Down 0.7 %

Shares of NYSE:INGR traded down $0.93 during midday trading on Wednesday, reaching $126.20. The company had a trading volume of 82,056 shares, compared to its average volume of 522,060. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. The stock’s fifty day moving average price is $138.82 and its 200-day moving average price is $136.10. The stock has a market capitalization of $8.22 billion, a P/E ratio of 12.30, a PEG ratio of 1.11 and a beta of 0.74. Ingredion has a one year low of $107.40 and a one year high of $155.44.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.09. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts expect that Ingredion will post 10.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $146.76, for a total value of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total transaction of $861,120.52. Following the completion of the sale, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,992 shares of company stock valued at $8,913,841 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ingredion

Institutional investors and hedge funds have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Ingredion in the 4th quarter valued at about $27,000. Prospera Private Wealth LLC acquired a new stake in Ingredion during the 3rd quarter worth about $41,000. Crews Bank & Trust acquired a new stake in Ingredion during the 4th quarter worth about $48,000. Versant Capital Management Inc raised its holdings in Ingredion by 431.0% during the 4th quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after buying an additional 362 shares during the period. Finally, Concord Wealth Partners raised its holdings in Ingredion by 82.6% during the 3rd quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after buying an additional 223 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

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.