Ingredion’s (INGR) “Outperform” Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reaffirmed their outperform rating on shares of Ingredion Incorporated (NYSE:INGR) in a research report released on Thursday, November 2nd, The Fly reports. They currently have a $145.00 price target on the stock, up from their prior price target of $140.00.

Several other research analysts also recently commented on the stock. Zacks Investment Research cut shares of Ingredion from a buy rating to a hold rating in a research report on Friday, September 1st. Jefferies Group LLC set a $145.00 target price on shares of Ingredion and gave the company a buy rating in a research report on Sunday, October 29th. Finally, BidaskClub upgraded shares of Ingredion from a strong sell rating to a sell rating in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $140.00.

Shares of Ingredion (NYSE:INGR) opened at $134.93 on Thursday. Ingredion has a 1 year low of $113.07 and a 1 year high of $135.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 2.41. The stock has a market cap of $9,600.00, a price-to-earnings ratio of 17.49, a PEG ratio of 1.58 and a beta of 0.68.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, beating the 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 business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. The business’s revenue was down .3% on a year-over-year basis. sell-side analysts forecast that Ingredion will post 7.71 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This story was first reported by BBNS and is the property of of BBNS. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://baseballnewssource.com/markets/ingredion-incorporated-ingr-stock-rating-reaffirmed-by-credit-suisse-group/1752116.html.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, October 2nd were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 29th. This is an increase from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.78%. Ingredion’s dividend payout ratio (DPR) is currently 34.33%.

In other Ingredion news, VP James P. Zallie sold 21,862 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total value of $2,733,624.48. Following the completion of the transaction, the vice president now owns 29,306 shares of the company’s stock, valued at $3,664,422.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jorgen Kokke sold 20,674 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the completion of the transaction, the senior vice president now directly owns 23,119 shares of the company’s stock, valued at approximately $3,074,827. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,556 shares of company stock worth $9,371,676. Insiders own 1.92% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. WFG Advisors LP raised its holdings in shares of Ingredion by 0.4% during the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after purchasing an additional 6 shares during the last quarter. HL Financial Services LLC raised its holdings in shares of Ingredion by 0.4% during the second quarter. HL Financial Services LLC now owns 2,730 shares of the company’s stock worth $325,000 after purchasing an additional 12 shares during the last quarter. IndexIQ Advisors LLC raised its holdings in shares of Ingredion by 1.8% during the second quarter. IndexIQ Advisors LLC now owns 1,655 shares of the company’s stock worth $197,000 after purchasing an additional 29 shares during the last quarter. Somerset Trust Co raised its holdings in shares of Ingredion by 0.5% during the second quarter. Somerset Trust Co now owns 6,317 shares of the company’s stock worth $753,000 after purchasing an additional 30 shares during the last quarter. Finally, Linscomb & Williams Inc. raised its holdings in shares of Ingredion by 1.4% during the second quarter. Linscomb & Williams Inc. now owns 2,209 shares of the company’s stock worth $263,000 after purchasing an additional 30 shares during the last quarter. 83.77% of the stock is owned by hedge funds and other institutional investors.

About Ingredion

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.

The Fly

Receive News & Ratings for Ingredion Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion Incorporated and related companies with our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.