Ingredion (NYSE:INGR) Stock Rating Reaffirmed by Stephens

Ingredion (NYSE:INGR – Get Rating)‘s stock had its “overweight” rating reiterated by research analysts at Stephens in a research note issued to investors on Friday, Benzinga reports. They currently have a $120.00 price objective on the stock. Stephens’ price target suggests a potential upside of 24.22% from the stock’s previous close.

A number of other research firms have also recently issued reports on INGR. Barclays cut shares of Ingredion from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $105.00 to $110.00 in a research note on Monday, January 23rd. Credit Suisse Group raised their target price on shares of Ingredion from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, February 9th. Finally, StockNews.com started coverage on shares of Ingredion in a research note on Thursday. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $107.25.

Ingredion Stock Performance

Shares of INGR stock opened at $96.60 on Friday. The stock has a market cap of $6.37 billion, a P/E ratio of 13.16 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.76 and a quick ratio of 0.91. The company has a fifty day moving average price of $99.85 and a two-hundred day moving average price of $93.80. Ingredion has a one year low of $78.81 and a one year high of $105.24.

Ingredion (NYSE:INGR – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Ingredion had a net margin of 6.19% and a return on equity of 15.70%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. As a group, equities analysts predict that Ingredion will post 8.32 EPS for the current year.

Insider Transactions at Ingredion

In other news, EVP Jorgen Kokke sold 7,119 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $100.21, for a total value of $713,394.99. Following the transaction, the executive vice president now owns 36,537 shares in the company, valued at approximately $3,661,372.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 7,120 shares of company stock worth $713,497. Company insiders own 1.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INGR. Acadian Asset Management LLC lifted its position in shares of Ingredion by 1,760.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,581 shares of the company’s stock worth $137,000 after purchasing an additional 1,496 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Ingredion by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,385 shares of the company’s stock valued at $2,125,000 after acquiring an additional 2,325 shares during the period. BlackRock Inc. lifted its position in shares of Ingredion by 1.9% during the 1st quarter. BlackRock Inc. now owns 5,790,111 shares of the company’s stock valued at $504,608,000 after acquiring an additional 107,110 shares during the period. Great West Life Assurance Co. Can lifted its position in shares of Ingredion by 14.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 42,242 shares of the company’s stock valued at $3,791,000 after acquiring an additional 5,392 shares during the period. Finally, Yousif Capital Management LLC lifted its position in shares of Ingredion by 1.2% during the 1st quarter. Yousif Capital Management LLC now owns 29,968 shares of the company’s stock valued at $2,612,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 85.70% of the company’s stock.

About Ingredion

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Ingredion, Inc engages in the development, production, and sale of food and beverage ingredients, primarily starches and sweeteners. The firm is involved in transforming corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums, and vegetables into value-added ingredients and biomaterials for the food, beverage, brewing, and other industries.