Ingredion Incorporated (NYSE:INGR) Receives $137.33 Consensus PT from Analysts

Ingredion Incorporated (NYSE:INGR) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $137.33.

A number of analysts recently commented on the company. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $122.00 to $145.00 in a report on Friday, August 9th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Oppenheimer lifted their target price on shares of Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. UBS Group raised 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. Finally, BMO Capital Markets increased their target price on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,046,374.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO James P. Zallie sold 22,550 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $134.14, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert A. Ritchie sold 1,195 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.00. Following the transaction, the senior vice president now owns 15,906 shares in the company, valued at approximately $1,988,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,045 shares of company stock worth $3,482,491. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ingredion

Hedge funds and other institutional investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Ingredion in the 2nd quarter valued at $26,000. Jones Financial Companies Lllp bought a new position in shares of Ingredion in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC raised its stake in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Ingredion in the 2nd quarter valued at approximately $33,000. Finally, Family Firm Inc. bought a new stake in Ingredion during the 2nd quarter worth $36,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Stock Performance

NYSE:INGR opened at $134.70 on Friday. The stock has a market capitalization of $8.76 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. Ingredion has a 1 year low of $89.54 and a 1 year high of $137.21. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $127.02 and a 200-day moving average of $119.65.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business earned $2.32 EPS. Ingredion’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ingredion will post 9.95 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be given a $0.80 dividend. The ex-dividend date is Tuesday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a yield of 2.38%. Ingredion’s dividend payout ratio (DPR) is 31.26%.

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.