Ingredion Incorporated (NYSE:INGR) Receives $137.33 Average Price Target from Brokerages

Ingredion Incorporated (NYSE:INGR) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently 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 target price among brokers that have issued ratings on the stock in the last year is $137.33.

Several equities research analysts recently weighed in on INGR shares. Barclays upgraded Ingredion from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $122.00 to $145.00 in a report on Friday, August 9th. BMO Capital Markets boosted their target price on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. UBS Group upped their price target on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Oppenheimer upped their price target on Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th.

Insider Transactions at Ingredion

In related news, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 15,906 shares in the company, valued at $1,988,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO James P. Zallie sold 22,550 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares in the company, valued at $7,046,374.20. This trade represents a 0.00 % decrease in their position. The transaction 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 firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at $1,988,250. This represents 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 sold 26,046 shares of company stock valued at $3,482,626. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ingredion

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Ingredion in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ingredion in the 2nd quarter valued at $33,000. Family Firm Inc. acquired a new stake in shares of Ingredion in the 2nd quarter valued at $36,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Ingredion in the 2nd quarter valued at $36,000. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Stock Down 0.1 %

Shares of Ingredion stock opened at $133.42 on Wednesday. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 1.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51. Ingredion has a 52-week low of $89.54 and a 52-week high of $138.37. The stock has a 50-day simple moving average of $133.05 and a 200-day simple moving average of $121.95.

Ingredion (NYSE:INGR) last posted its earnings results 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 return on equity of 17.18% and a net margin of 8.47%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $2.32 EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, equities research analysts expect that Ingredion will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be paid a $0.80 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.40%. Ingredion’s dividend payout ratio is currently 32.72%.

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.