Ingredion (NYSE:INGR) Price Target Increased to $128.00 by Analysts at BMO Capital Markets

Ingredion (NYSE:INGR) had its price objective lifted by stock analysts at BMO Capital Markets from $120.00 to $128.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential downside of 1.67% from the company’s current price.

INGR has been the topic of a number of other research reports. Oppenheimer increased their target price on shares of Ingredion from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.33.

Ingredion Stock Performance

INGR traded up $3.41 on Wednesday, reaching $130.17. The company had a trading volume of 462,165 shares, compared to its average volume of 394,100. Ingredion has a fifty-two week low of $89.54 and a fifty-two week high of $130.66. The stock has a market cap of $8.55 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.16 and a beta of 0.72. The company’s fifty day moving average is $117.18 and its 200 day moving average is $115.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 2.44.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the business earned $2.32 EPS. Ingredion’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, analysts predict that Ingredion will post 9.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Robert A. Ritchie sold 1,195 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Robert A. Ritchie sold 1,195 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO James D. Gray sold 8,490 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $121.74, for a total transaction of $1,033,572.60. Following the completion of the transaction, the chief financial officer now directly owns 42,833 shares of the company’s stock, valued at approximately $5,214,489.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,185 shares of company stock worth $4,382,848. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ingredion

Several large investors have recently modified their holdings of INGR. Loews Corp increased its position in shares of Ingredion by 11.1% during the fourth quarter. Loews Corp now owns 200,000 shares of the company’s stock worth $21,706,000 after buying an additional 20,000 shares during the period. Paradiem LLC increased its position in shares of Ingredion by 64.2% during the fourth quarter. Paradiem LLC now owns 73,190 shares of the company’s stock worth $7,943,000 after buying an additional 28,617 shares during the period. Insight Wealth Strategies LLC increased its position in shares of Ingredion by 230.9% during the first quarter. Insight Wealth Strategies LLC now owns 13,725 shares of the company’s stock worth $1,604,000 after buying an additional 9,577 shares during the period. Janus Henderson Group PLC increased its position in shares of Ingredion by 154.0% during the first quarter. Janus Henderson Group PLC now owns 77,890 shares of the company’s stock worth $9,101,000 after buying an additional 47,225 shares during the period. Finally, Sei Investments Co. increased its position in shares of Ingredion by 23.4% during the first quarter. Sei Investments Co. now owns 113,876 shares of the company’s stock worth $13,305,000 after buying an additional 21,619 shares during the period. 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.