Analysts Set Ingredion Incorporated (NYSE:INGR) PT at $155.17

Ingredion Incorporated (NYSE:INGR) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given 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 brokerages have recently commented on INGR. Stephens raised Ingredion to a “hold” rating in a report on Monday, December 2nd. UBS Group raised their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BMO Capital Markets upped their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Barclays lifted their price objective 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. Finally, Oppenheimer increased their target price on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th.

Ingredion Price Performance

Shares of NYSE INGR opened at $138.57 on Monday. Ingredion has a twelve month low of $106.03 and a twelve month 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 firm has a 50-day moving average of $142.71 and a two-hundred day moving average of $132.07. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.24 and a beta of 0.74.

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 firm 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 firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.33 earnings per share. As a group, analysts expect that Ingredion will post 10.59 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO James P. Zallie sold 371 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the transaction, the chief executive officer now owns 52,159 shares in the company, valued at $6,967,399.22. This represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James D. Gray sold 54,869 shares of Ingredion stock in a transaction on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the sale, the chief financial officer now directly owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,198 shares of company stock valued at $9,702,461 in the last three months. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INGR. Signaturefd LLC boosted its position in Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after purchasing an additional 85 shares during the period. Tidal Investments LLC lifted its stake in shares of Ingredion by 0.5% in the third quarter. Tidal Investments LLC now owns 19,905 shares of the company’s stock worth $2,720,000 after buying an additional 94 shares during the last quarter. Seelaus Asset Management LLC boosted its holdings in shares of Ingredion by 3.3% during the 3rd quarter. Seelaus Asset Management LLC now owns 3,285 shares of the company’s stock worth $451,000 after buying an additional 105 shares during the period. Conscious Wealth Investments LLC grew its stake in Ingredion by 0.4% in the 2nd quarter. Conscious Wealth Investments LLC now owns 25,165 shares of the company’s stock valued at $2,967,000 after buying an additional 106 shares during the last quarter. Finally, Delphi Management Inc. MA raised its holdings in Ingredion by 0.8% in the 2nd quarter. Delphi Management Inc. MA now owns 15,631 shares of the company’s stock worth $1,793,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds 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.