BMO Capital Markets Lowers Ingredion (NYSE:INGR) Price Target to $133.00

Ingredion (NYSE:INGR) had its price target lowered by equities research analysts at BMO Capital Markets from $147.00 to $133.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 5.39% from the stock’s current price.

Several other brokerages also recently commented on INGR. Stephens raised Ingredion to a “hold” rating in a research note on Monday, December 2nd. Oppenheimer increased their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group increased their price target on Ingredion from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Barclays raised their target price on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.17.

Ingredion Trading Down 0.7 %

Ingredion stock traded down $0.93 during midday trading on Wednesday, hitting $126.20. 82,056 shares of the stock were exchanged, compared to its average volume of 522,060. The company has a fifty day simple moving average of $138.82 and a two-hundred day simple moving average of $136.10. Ingredion has a 52 week low of $107.40 and a 52 week high of $155.44. The stock has a market capitalization of $8.22 billion, a PE ratio of 12.30, a P/E/G ratio of 1.11 and a beta of 0.74. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share (EPS) 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 net margin of 9.05% and a return on equity of 17.75%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $1.65 earnings per share. Equities research analysts anticipate that Ingredion will post 10.59 EPS for the current fiscal year.

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 6,122 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.66, for a total transaction of $861,120.52. Following the sale, the senior vice president now owns 29,034 shares in the company, valued at approximately $4,083,922.44. The trade was a 17.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 12,795 shares in the company, valued at $1,877,794.20. The trade was a 81.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,992 shares of company stock valued at $8,913,841 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ingredion

A number of hedge funds have recently made changes to their positions in INGR. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Ingredion during the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC purchased a new position in Ingredion in the third quarter worth approximately $41,000. Crews Bank & Trust purchased a new position in Ingredion in the fourth quarter worth approximately $48,000. Versant Capital Management Inc grew its position in Ingredion by 431.0% in the fourth quarter. Versant Capital Management Inc now owns 446 shares of the company’s stock worth $61,000 after acquiring an additional 362 shares during the period. Finally, Concord Wealth Partners grew its position in Ingredion by 82.6% in the third quarter. Concord Wealth Partners now owns 493 shares of the company’s stock worth $68,000 after acquiring 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.