Ingredion (NYSE:INGR) Stock Rating Lowered by StockNews.com

Ingredion (NYSE:INGR) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Separately, BMO Capital Markets boosted their price target on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.17.

Ingredion Stock Up 0.2 %

Ingredion stock opened at $114.99 on Thursday. Ingredion has a 1-year low of $89.54 and a 1-year high of $122.18. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.06 and a beta of 0.72. The company has a current ratio of 2.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.47. The firm has a 50 day simple moving average of $115.97 and a 200 day simple moving average of $113.85.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.08. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the business earned $2.80 EPS. Ingredion’s revenue was down 11.9% compared to the same quarter last year. On average, analysts predict that Ingredion will post 9.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $119.11, for a total transaction of $282,171.59. Following the completion of the transaction, the senior vice president now directly owns 28,848 shares of the company’s stock, valued at $3,436,085.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ingredion news, SVP Larry Fernandes sold 2,369 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $119.11, for a total value of $282,171.59. Following the sale, the senior vice president now owns 28,848 shares in the company, valued at $3,436,085.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James P. Zallie sold 27,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.36, for a total transaction of $3,199,900.00. Following the completion of the sale, the chief executive officer now owns 52,197 shares in the company, valued at approximately $6,073,642.92. The disclosure for this sale can be found here. Insiders sold 38,359 shares of company stock valued at $4,515,644 over the last three months. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ingredion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Ingredion in the fourth quarter worth approximately $82,272,000. Vanguard Group Inc. lifted its stake in shares of Ingredion by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 7,773,126 shares of the company’s stock worth $843,617,000 after buying an additional 427,496 shares in the last quarter. Morningstar Investment Services LLC lifted its stake in shares of Ingredion by 98.5% in the fourth quarter. Morningstar Investment Services LLC now owns 393,101 shares of the company’s stock worth $42,789,000 after buying an additional 195,106 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Ingredion by 43.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock worth $47,303,000 after buying an additional 123,406 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Ingredion by 207.9% in the first quarter. Van ECK Associates Corp now owns 170,910 shares of the company’s stock worth $19,971,000 after buying an additional 115,399 shares in the last quarter. Hedge funds and other 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.