Brokerages Set Ingredion Incorporated (NYSE:INGR) Price Target at $155.17

Ingredion Incorporated (NYSE:INGR) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $155.17.

Several equities analysts have commented on INGR shares. Stephens raised Ingredion to a “hold” rating in a report on Monday, December 2nd. UBS Group raised their target price on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. BMO Capital Markets increased their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Oppenheimer lifted their target price on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Barclays increased their price target on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 371 shares of the 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 sale, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. This represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the transaction, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,198 shares of company stock valued at $9,702,461. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Ingredion

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ingredion in the second quarter worth about $33,000. Prospera Private Wealth LLC bought a new position in shares of Ingredion in the 3rd quarter valued at about $41,000. International Assets Investment Management LLC acquired a new stake in shares of Ingredion during the 2nd quarter worth approximately $36,000. Abich Financial Wealth Management LLC bought a new stake in shares of Ingredion during the second quarter worth approximately $56,000. Finally, Concord Wealth Partners lifted its holdings in Ingredion by 82.6% in the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after buying an additional 223 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Stock Down 0.2 %

INGR opened at $138.57 on Monday. The business has a 50 day moving average of $142.71 and a 200-day moving average of $132.07. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 1.24 and a beta of 0.74. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. Ingredion has a 1-year low of $106.03 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last posted its quarterly earnings results 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 company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the business posted $2.33 EPS. As a group, sell-side analysts anticipate that Ingredion will post 10.59 earnings per share for the current year.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.20 annualized dividend and a yield of 2.31%. Ingredion’s dividend payout ratio is 31.22%.

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.