Zacks Investment Research Downgrades Ingredion (NYSE:INGR) to Sell

Ingredion (NYSE:INGR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, Zacks.com reports.

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. “

A number of other equities analysts also recently issued reports on INGR. BMO Capital Markets raised their price target on Ingredion from $90.00 to $104.00 and gave the stock a “market perform” rating in a research note on Wednesday. TheStreet upgraded Ingredion from a “c+” rating to a “b-” rating in a research report on Friday, December 27th. Credit Suisse Group increased their target price on Ingredion from $77.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Stephens raised their target price on Ingredion from $97.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $99.50.

INGR opened at $97.34 on Thursday. The company has a quick ratio of 1.53, a current ratio of 2.45 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average price of $92.11 and a 200-day moving average price of $84.15. Ingredion has a twelve month low of $73.00 and a twelve month high of $99.51. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 16.58 and a beta of 0.83.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, February 11th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.13. Ingredion had a net margin of 6.67% and a return on equity of 17.69%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the company posted $1.61 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts expect that Ingredion will post 6.53 earnings per share for the current year.

In other Ingredion news, SVP Elizabeth Adefioye sold 2,779 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $89.31, for a total transaction of $248,192.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 2,780 shares of company stock valued at $248,282. 0.56% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cypress Capital Management LLC bought a new position in shares of Ingredion in the third quarter worth about $5,516,000. Comerica Bank increased its holdings in Ingredion by 5.7% in the 3rd quarter. Comerica Bank now owns 34,583 shares of the company’s stock worth $2,739,000 after acquiring an additional 1,869 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Ingredion by 16.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 95,579 shares of the company’s stock worth $7,813,000 after acquiring an additional 13,589 shares in the last quarter. BlackRock Inc. increased its holdings in Ingredion by 1.0% in the 2nd quarter. BlackRock Inc. now owns 7,450,448 shares of the company’s stock worth $614,589,000 after acquiring an additional 72,014 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Ingredion by 113.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 593 shares of the company’s stock worth $46,000 after acquiring an additional 315 shares during the period. Institutional investors own 86.12% of the company’s stock.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

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