Ingredion (NYSE:INGR) Given New $178.00 Price Target at Oppenheimer

Ingredion (NYSE:INGR) had its price target upped by Oppenheimer from $147.00 to $178.00 in a research report report published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on INGR. StockNews.com cut Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $122.00 to $145.00 in a report on Friday, August 9th. UBS Group lifted their price objective on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, BMO Capital Markets upped their target price on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Ingredion has a consensus rating of “Moderate Buy” and an average price target of $151.00.

Ingredion Stock Performance

INGR opened at $151.55 on Wednesday. The company has a 50 day simple moving average of $136.22 and a two-hundred day simple moving average of $125.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.67 and a quick ratio of 1.51. The firm has a market cap of $9.86 billion, a P/E ratio of 14.79, a PEG ratio of 1.29 and a beta of 0.73. Ingredion has a 1-year low of $100.53 and a 1-year high of $155.44.

Ingredion (NYSE:INGR) last released its earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.47. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $2.33 EPS. Ingredion’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts forecast that Ingredion will post 10.6 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.11%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, October 1st. Ingredion’s dividend payout ratio is currently 31.22%.

Insiders Place Their Bets

In related news, CEO James P. Zallie sold 371 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $133.58, for a total transaction of $49,558.18. Following the sale, the chief executive officer now owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ingredion news, CEO James P. Zallie sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,595.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James P. Zallie sold 371 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total value of $49,558.18. Following the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at approximately $6,967,399.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,056 shares of company stock valued at $4,121,736 over the last ninety days. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ingredion

Several hedge funds have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Ingredion during the second quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its holdings in Ingredion by 102.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after buying an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ingredion in the 2nd quarter valued at about $33,000. Family Firm Inc. bought a new position in Ingredion in the 2nd quarter worth about $36,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Ingredion during the second quarter worth approximately $36,000. Institutional investors 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.