Ingredion (NYSE:INGR) Stock Price Expected to Rise, Oppenheimer Analyst Says

Ingredion (NYSE:INGR) had its price target hoisted by equities research analysts at Oppenheimer from $147.00 to $178.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 18.67% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. UBS Group raised their target price on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets upped their price target on Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ingredion presently has an average rating of “Moderate Buy” and an average target price of $151.00.

Ingredion Stock Down 0.3 %

INGR stock opened at $150.00 on Wednesday. The company has a 50 day moving average of $135.87 and a two-hundred day moving average of $125.11. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.21 and a beta of 0.73. Ingredion has a 12-month low of $100.01 and a 12-month high of $155.44. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. Ingredion’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $2.33 earnings per share. On average, equities analysts anticipate that Ingredion will post 10.05 earnings per share for the current fiscal year.

Insider Transactions at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now owns 52,159 shares of the company’s stock, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Larry Fernandes sold 4,700 shares of Ingredion stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,056 shares of company stock worth $4,121,736. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ingredion

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of 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 purchasing an additional 125,543 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Ingredion by 92.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after acquiring an additional 846,967 shares during the period. Cooke & Bieler LP increased its stake in Ingredion by 2.7% in the second 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 during the period. Equity Investment Corp raised its position in Ingredion by 2.8% in the second quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock worth $112,250,000 after purchasing an additional 26,526 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Ingredion by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company’s stock valued at $87,125,000 after purchasing an additional 17,062 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

About Ingredion

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.