Ingredion (NYSE:INGR) Downgraded by Zacks Investment Research to Hold

Ingredion (NYSE:INGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, November 9th.

According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “

Several other brokerages also recently commented on INGR. BidaskClub downgraded shares of Ingredion from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Jefferies Group set a $145.00 price objective on shares of Ingredion and gave the company a “buy” rating in a research report on Sunday, October 29th. Credit Suisse Group restated an “outperform” rating and set a $145.00 price objective (up previously from $140.00) on shares of Ingredion in a research report on Thursday, November 2nd. Finally, BMO Capital Markets restated a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research report on Friday, September 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Ingredion presently has an average rating of “Buy” and an average target price of $140.00.

Ingredion (NYSE:INGR) traded up $2.06 on Thursday, reaching $139.07. 567,910 shares of the company traded hands, compared to its average volume of 429,734. The company has a market cap of $9,734.11, a P/E ratio of 17.71, a PEG ratio of 1.60 and a beta of 0.68. Ingredion has a 52 week low of $113.07 and a 52 week high of $139.26. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 2.41.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.17. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm earned $1.96 EPS. Ingredion’s revenue for the quarter was down .3% on a year-over-year basis. equities analysts anticipate that Ingredion will post 7.71 earnings per share for the current year.

In other Ingredion news, SVP Jorgen Kokke sold 20,674 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $133.00, for a total value of $2,749,642.00. Following the sale, the senior vice president now owns 23,119 shares of the company’s stock, valued at approximately $3,074,827. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James P. Zallie sold 3,048 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $125.00, for a total transaction of $381,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,556 shares of company stock worth $9,371,676. 1.92% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in Ingredion by 87.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,396,952 shares of the company’s stock worth $168,528,000 after acquiring an additional 651,035 shares during the last quarter. LSV Asset Management grew its holdings in Ingredion by 20.2% in the 2nd quarter. LSV Asset Management now owns 1,303,657 shares of the company’s stock worth $155,408,000 after acquiring an additional 218,710 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Ingredion by 19.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,215,767 shares of the company’s stock worth $146,670,000 after acquiring an additional 193,722 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Ingredion by 2.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,156,251 shares of the company’s stock worth $139,491,000 after acquiring an additional 24,174 shares during the last quarter. Finally, AJO LP boosted its stake in shares of Ingredion by 2.8% during the 2nd quarter. AJO LP now owns 1,052,662 shares of the company’s stock valued at $125,488,000 after purchasing an additional 28,372 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

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Ingredion Company Profile

Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.

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