Ingredion (NYSE:INGR) Receives “Equal Weight” Rating from Barclays

Ingredion (NYSE:INGR)‘s stock had its “equal weight” rating reaffirmed by Barclays in a research note issued to investors on Thursday,Benzinga reports. They currently have a $124.00 target price on the stock, down from their prior target price of $168.00. Barclays‘s target price points to a potential upside of 15.10% from the stock’s current price.

Several other research firms have also recently issued reports on INGR. Zacks Research cut Ingredion from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Industrial Alliance Securities set a $124.00 price target on shares of Ingredion in a research note on Thursday. Wall Street Zen downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Oppenheimer set a $136.00 price target on shares of Ingredion in a research note on Wednesday, October 22nd. Finally, Stephens dropped their price target on shares of Ingredion from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $124.33.

Ingredion Stock Performance

Shares of NYSE INGR opened at $107.73 on Thursday. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $121.69 and a 200-day simple moving average of $129.71. The company has a market cap of $6.91 billion, a PE ratio of 10.51, a P/E/G ratio of 0.95 and a beta of 0.72. Ingredion has a 12-month low of $102.31 and a 12-month high of $155.44.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.02. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.90 billion. Ingredion had a return on equity of 19.04% and a net margin of 9.24%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, equities research analysts forecast that Ingredion will post 11.14 EPS for the current year.

Insider Buying and Selling

In other Ingredion news, CEO James P. Zallie sold 36,287 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the transaction, the chief executive officer directly owned 50,129 shares of the company’s stock, valued at $6,342,321.08. This represents a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Ingredion

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Ingredion by 0.3% during the second quarter. Vanguard Group Inc. now owns 7,266,873 shares of the company’s stock valued at $985,533,000 after acquiring an additional 22,487 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ingredion by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,755,683 shares of the company’s stock valued at $372,594,000 after acquiring an additional 177,387 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Ingredion by 2.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,369,448 shares of the company’s stock valued at $167,223,000 after acquiring an additional 29,433 shares during the period. Allianz Asset Management GmbH boosted its holdings in Ingredion by 42.9% during the first quarter. Allianz Asset Management GmbH now owns 1,204,347 shares of the company’s stock valued at $162,840,000 after acquiring an additional 361,584 shares during the period. Finally, Northern Trust Corp boosted its holdings in Ingredion by 37.0% during the first quarter. Northern Trust Corp now owns 982,789 shares of the company’s stock valued at $132,883,000 after acquiring an additional 265,263 shares during the period. 85.27% of the stock is currently owned by institutional investors.

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.