Oppenheimer Increases Ingredion (NYSE:INGR) Price Target to $147.00

Ingredion (NYSE:INGR) had its price target increased by equities researchers at Oppenheimer from $138.00 to $147.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 9.38% from the company’s current price.

A number of other research firms also recently commented on INGR. StockNews.com downgraded Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $122.00 to $145.00 in a research note on Friday, August 9th. BMO Capital Markets raised their target price on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Finally, UBS Group upped their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and an average target price of $138.83.

Ingredion Stock Up 0.3 %

Ingredion stock opened at $134.40 on Monday. The stock’s 50 day moving average price is $134.32 and its 200 day moving average price is $123.04. Ingredion has a 1-year low of $89.54 and a 1-year high of $138.37. The company has a market cap of $8.82 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.52 and a quick ratio of 1.51.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.34. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.32 EPS. On average, sell-side analysts predict that Ingredion will post 9.95 EPS for the current fiscal year.

Insider Activity

In other news, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total value of $149,375.00. Following the completion of the sale, the senior vice president now owns 15,906 shares of the company’s stock, valued at $1,988,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Robert A. Ritchie sold 1,195 shares of the firm’s 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 sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 22,550 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $134.14, for a total transaction of $3,024,857.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,551 shares of company stock valued at $3,550,084 over the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Ingredion

A number of institutional investors and hedge funds have recently made changes to their positions in INGR. Dimensional Fund Advisors LP raised its holdings in Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after buying an additional 125,543 shares during the period. Pacer Advisors Inc. raised its stake in shares of Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after acquiring an additional 846,967 shares during the period. Cooke & Bieler LP lifted its holdings in shares of Ingredion by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after acquiring an additional 27,087 shares in the last quarter. Equity Investment Corp lifted its holdings in shares of Ingredion by 2.8% during the 2nd quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock valued at $112,250,000 after acquiring an additional 26,526 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Ingredion by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company’s stock worth $87,125,000 after purchasing an additional 17,062 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.