Ingredion (NYSE:INGR) Price Target Lowered to $167.00 at Oppenheimer

Ingredion (NYSE:INGR) had its price target reduced by stock analysts at Oppenheimer from $178.00 to $167.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 32.33% from the company’s current price.

A number of other brokerages have also recently issued reports on INGR. Barclays boosted their price objective on shares of Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. BMO Capital Markets lowered their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating for the company in a research report on Wednesday. Stephens reduced their target price on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $154.33.

Ingredion Trading Down 0.7 %

Shares of INGR traded down $0.93 during trading hours on Wednesday, hitting $126.20. 167,403 shares of the stock traded hands, compared to its average volume of 526,040. The firm has a market capitalization of $8.22 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.11 and a beta of 0.74. Ingredion has a 1-year low of $107.40 and a 1-year high of $155.44. The company has a current ratio of 2.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $138.82 and a 200-day moving average of $136.10.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.09. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 EPS. Analysts expect that Ingredion will post 10.59 EPS for the current year.

Insider Transactions at Ingredion

In related news, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.66, for a total value of $861,120.52. Following the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,083,922.44. The trade was a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following 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. Insiders sold a total of 60,992 shares of company stock worth $8,913,841 in the last three months. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ingredion

Several large investors have recently added to or reduced their stakes in INGR. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Ingredion during the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC bought a new position in Ingredion during the third quarter worth $41,000. Crews Bank & Trust acquired a new stake in Ingredion in the fourth quarter worth $48,000. Versant Capital Management Inc increased its stake in Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock valued at $61,000 after purchasing an additional 362 shares in the last quarter. Finally, Concord Wealth Partners raised its holdings in shares of Ingredion by 82.6% during the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock valued at $68,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Company Profile

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.