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. “
INGR has been the subject of several other reports. Stephens began coverage on Ingredion in a report on Monday, October 7th. They set an “overweight” rating and a $97.00 price objective for the company. Credit Suisse Group dropped their price objective on Ingredion from $85.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. They noted that the move was a valuation call. ValuEngine raised Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Citigroup dropped their price objective on Ingredion from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $101.00.
Shares of NYSE INGR opened at $83.91 on Tuesday. The firm’s 50-day simple moving average is $80.46 and its 200 day simple moving average is $81.16. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 12.13 and a beta of 0.81. The company has a quick ratio of 1.53, a current ratio of 2.45 and a debt-to-equity ratio of 0.81. Ingredion has a 12-month low of $73.00 and a 12-month high of $106.67.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.09. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.46 billion. Ingredion had a net margin of 6.67% and a return on equity of 17.69%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 EPS. On average, equities analysts expect that Ingredion will post 6.5 earnings per share for the current year.
In other Ingredion news, SVP Larry Fernandes sold 2,200 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $82.53, for a total transaction of $181,566.00. Following the completion of the sale, the senior vice president now directly owns 15,172 shares of the company’s stock, valued at approximately $1,252,145.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Comerica Bank increased its stake in shares of Ingredion by 3.2% in the 2nd quarter. Comerica Bank now owns 32,714 shares of the company’s stock valued at $2,627,000 after acquiring an additional 1,022 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Ingredion by 33.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 58,332 shares of the company’s stock valued at $4,812,000 after acquiring an additional 14,561 shares during the last quarter. Cypress Capital Management LLC bought a new stake in shares of Ingredion in the 3rd quarter valued at about $5,516,000. AGF Investments Inc. increased its stake in shares of Ingredion by 6.2% in the 2nd quarter. AGF Investments Inc. now owns 2,374 shares of the company’s stock valued at $196,000 after acquiring an additional 138 shares during the last quarter. Finally, Virtus ETF Advisers LLC bought a new stake in shares of Ingredion in the 2nd quarter valued at about $2,240,000. 87.80% of the stock is owned by institutional investors.
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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