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

Ingredion (NYSE:INGR) had its price target lifted by equities research analysts at UBS Group from $165.00 to $173.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 21.18% from the company’s previous close.

INGR has been the subject of a number of other research reports. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer increased their price target on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Barclays increased their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets increased their price target on Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Stock Performance

NYSE:INGR traded down $6.43 during mid-day trading on Friday, hitting $142.76. 202,221 shares of the company traded hands, compared to its average volume of 380,542. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average price is $137.15 and its 200-day moving average price is $126.19. Ingredion has a one year low of $100.90 and a one year high of $155.44.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 earnings per share. Research analysts anticipate that Ingredion will post 10.6 earnings per share for the current fiscal year.

Insider Transactions at Ingredion

In other Ingredion news, 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 transaction of $721,027.00. Following the completion of the transaction, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,454,105.94. This trade represents a 13.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,046,374.20. This represents a 30.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,056 shares of company stock valued at $4,121,736 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingredion

Several institutional investors and hedge funds have recently modified their holdings of INGR. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Ingredion in the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its stake in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ingredion in the 2nd quarter valued at $33,000. Family Firm Inc. acquired a new stake in shares of Ingredion in the 2nd quarter worth $36,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Ingredion during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors 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.