Barclays Forecasts Strong Price Appreciation for Ingredion (NYSE:INGR) Stock

Ingredion (NYSE:INGR) had its target price upped by Barclays from $145.00 to $168.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 11.72% from the company’s current price.

Other equities analysts have also issued reports about the company. StockNews.com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets boosted their price objective on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Oppenheimer raised their target price on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, UBS Group boosted their price target on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $151.00.

Ingredion Stock Performance

INGR traded up $0.38 during trading on Wednesday, hitting $150.38. The stock had a trading volume of 65,167 shares, compared to its average volume of 378,694. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. Ingredion has a 12 month low of $100.53 and a 12 month high of $155.44. The company has a 50 day simple moving average of $135.87 and a 200-day simple moving average of $125.11. The firm has a market cap of $9.78 billion, a PE ratio of 15.34, a P/E/G ratio of 1.21 and a beta of 0.73.

Ingredion (NYSE:INGR) last announced its quarterly earnings data 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 business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. Ingredion’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the company posted $2.33 earnings per share. Analysts expect that Ingredion will post 10.05 EPS for the current year.

Insider Transactions at Ingredion

In other news, SVP Larry Fernandes sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the transaction, the senior vice president now directly owns 29,034 shares of the company’s stock, valued at $4,454,105.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the transaction, the senior vice president now owns 29,034 shares in the company, valued at $4,454,105.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 371 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the sale, the chief executive officer now owns 52,159 shares of the company’s stock, valued at $6,967,399.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,056 shares of company stock valued at $4,121,736. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Ingredion

Several hedge funds and other institutional investors have recently made changes to their positions in INGR. Dimensional Fund Advisors LP increased its position in Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after purchasing an additional 125,543 shares during the period. Pacer Advisors Inc. raised its stake in shares of Ingredion by 92.4% during the second quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after buying an additional 846,967 shares during the last quarter. Cooke & Bieler LP lifted its holdings in Ingredion by 2.7% in the second quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after buying an additional 27,087 shares during the period. Equity Investment Corp boosted its stake in Ingredion by 2.8% in the second quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock valued at $112,250,000 after acquiring an additional 26,526 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Ingredion by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 759,588 shares of the company’s stock worth $87,125,000 after acquiring an additional 17,062 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

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.