Oppenheimer Forecasts Strong Price Appreciation for Ingredion (NYSE:INGR) Stock

Ingredion (NYSE:INGR) had its target price increased by research analysts at Oppenheimer from $147.00 to $178.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 18.67% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Barclays upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets boosted their price objective on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Finally, UBS Group upped their price objective on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

Ingredion Stock Performance

NYSE INGR opened at $150.00 on Wednesday. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.21 and a beta of 0.73. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. Ingredion has a 1-year low of $100.01 and a 1-year high of $155.44. The company has a 50 day moving average of $135.87 and a 200-day moving average of $125.11.

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

Insider Buying and Selling

In related news, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at approximately $4,454,105.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now directly owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,056 shares of company stock valued at $4,121,736 over the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in shares of Ingredion by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after buying an additional 85 shares during the last quarter. Seelaus Asset Management LLC boosted its position in Ingredion by 3.3% during the third quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock valued at $451,000 after purchasing an additional 105 shares during the last quarter. Conscious Wealth Investments LLC grew its stake in Ingredion by 0.4% in the second quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after purchasing an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the last quarter. Finally, Delphi Management Inc. MA raised its stake in shares of Ingredion by 0.8% during the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after purchasing an additional 123 shares in the last quarter. 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.