Ingredion (NYSE:INGR) Price Target Cut to $167.00 by Analysts at Oppenheimer

Ingredion (NYSE:INGR) had its price objective cut by research analysts at Oppenheimer from $178.00 to $167.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 31.14% from the company’s current price.

INGR has been the topic of a number of other research reports. BMO Capital Markets cut their price target on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday. UBS Group upped their price target on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Stephens reduced their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Barclays increased their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Two equities 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, Ingredion presently has an average rating of “Moderate Buy” and an average target price of $154.33.

Ingredion Stock Performance

Shares of INGR stock opened at $127.34 on Wednesday. The stock has a market cap 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 stock has a 50-day moving average of $138.40 and a 200-day moving average of $136.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.69. Ingredion has a one year low of $107.77 and a one year high of $155.44.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.54 by $0.09. The firm had revenue of $1.80 billion during 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%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 earnings per share. As a group, sell-side analysts expect that Ingredion will post 10.59 earnings per share for the current year.

Insider Transactions at Ingredion

In related news, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the sale, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Larry Fernandes sold 6,122 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the completion of the transaction, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,083,922.44. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,992 shares of company stock valued at $8,913,841. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ingredion

A number of institutional investors have recently added to or reduced their stakes in the business. Inceptionr LLC bought a new stake in shares of Ingredion in the 4th quarter valued at $1,025,000. Raymond James Financial Inc. acquired a new position in Ingredion in the fourth quarter valued at approximately $31,752,000. Proficio Capital Partners LLC acquired a new stake in shares of Ingredion during the 4th quarter worth approximately $3,633,000. Assetmark Inc. increased its stake in shares of Ingredion by 38,341.7% in the 4th quarter. Assetmark Inc. now owns 509,352 shares of the company’s stock valued at $70,067,000 after acquiring an additional 508,027 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its position in shares of Ingredion by 14.2% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,449 shares of the company’s stock valued at $612,000 after acquiring an additional 552 shares during the period. 85.27% of the stock is owned by institutional investors.

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.