Ingredion (NYSE:INGR) Stock Price Expected to Rise, Barclays Analyst Says

Ingredion (NYSE:INGR) had its target price upped by investment analysts at Barclays from $145.00 to $168.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 11.72% from the stock’s current price.

A number of other brokerages have also commented on INGR. Oppenheimer boosted their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group upped their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets boosted their price target on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Ingredion Trading Up 0.3 %

Ingredion stock traded up $0.38 during midday trading on Wednesday, hitting $150.38. 65,167 shares of the stock were exchanged, compared to its average volume of 378,694. Ingredion has a 52 week low of $100.53 and a 52 week high of $155.44. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $9.78 billion, a PE ratio of 15.34, a P/E/G ratio of 1.21 and a beta of 0.73. The company has a fifty day simple moving average of $135.87 and a two-hundred day simple moving average of $125.11.

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

Insider Activity at Ingredion

In other news, CEO James P. Zallie sold 1,300 shares of the stock in a transaction 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 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction on Friday, August 30th. The shares were sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $174,239.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,595.90. The trade was 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 30,056 shares of company stock valued at $4,121,736. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ingredion

A number of hedge funds and other institutional investors have recently made changes to their positions in INGR. Belmont Capital LLC acquired a new position in shares of Ingredion in the 3rd quarter worth approximately $161,000. Quest Partners LLC bought a new stake in Ingredion during the third quarter valued at $86,000. AMG National Trust Bank grew its holdings in Ingredion by 3.4% during the 3rd quarter. AMG National Trust Bank now owns 11,220 shares of the company’s stock worth $1,542,000 after acquiring an additional 364 shares during the period. Chesapeake Capital Corp IL grew its holdings in Ingredion by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 6,121 shares of the company’s stock worth $841,000 after acquiring an additional 1,335 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of Ingredion by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 42,373 shares of the company’s stock worth $5,823,000 after acquiring an additional 577 shares in the last quarter. 85.27% of the stock is 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.