BMO Capital Markets Issues Pessimistic Forecast for Ingredion (NYSE:INGR) Stock Price

Ingredion (NYSE:INGR) had its price objective lowered by equities researchers at BMO Capital Markets from $147.00 to $133.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 4.44% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Oppenheimer increased their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays increased their price target on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Stephens upgraded shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. Finally, UBS Group increased their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $154.33.

Ingredion Price Performance

INGR stock opened at $127.34 on Wednesday. Ingredion has a 1 year low of $107.77 and a 1 year high of $155.44. 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 firm has a market capitalization of $8.30 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.11 and a beta of 0.74. The business has a 50 day simple moving average of $138.40 and a 200-day simple moving average of $136.03.

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

Insider Activity at Ingredion

In other news, SVP Larry Fernandes sold 6,122 shares of Ingredion 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 in the company, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 12,795 shares of the company’s stock, valued at $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,992 shares of company stock valued at $8,913,841. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ingredion

Several institutional investors and hedge funds have recently added to or reduced their stakes in INGR. Orion Portfolio Solutions LLC boosted its position in Ingredion by 195.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,608 shares of the company’s stock worth $1,595,000 after purchasing an additional 7,676 shares during the period. State Street Corp lifted its stake in shares of Ingredion by 0.8% during the third quarter. State Street Corp now owns 2,436,601 shares of the company’s stock worth $334,862,000 after purchasing an additional 19,560 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Ingredion by 75.7% in the third quarter. Franklin Resources Inc. now owns 194,295 shares of the company’s stock worth $26,109,000 after buying an additional 83,708 shares during the period. Principal Financial Group Inc. grew its stake in shares of Ingredion by 1.5% in the third quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock valued at $99,683,000 after buying an additional 10,812 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ingredion by 13.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 305,827 shares of the company’s stock valued at $42,030,000 after buying an additional 35,657 shares during the period. 85.27% of the stock is currently 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.