Ingredion (NYSE:INGR) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Ingredion (NYSE:INGR) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $111.00 price objective on the stock.

According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “

A number of other research firms have also recently weighed in on INGR. TheStreet raised shares of Ingredion from a c+ rating to a b rating in a research note on Tuesday, November 23rd. BMO Capital Markets upgraded shares of Ingredion from a market perform rating to an outperform rating and lifted their price target for the stock from $92.00 to $112.00 in a report on Wednesday, November 3rd. Barclays initiated coverage on shares of Ingredion in a report on Tuesday, November 9th. They set an overweight rating and a $115.00 price target on the stock. Finally, Credit Suisse Group upgraded shares of Ingredion from a neutral rating to an outperform rating and lifted their price target for the stock from $93.00 to $110.00 in a report on Wednesday, November 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $109.60.

NYSE INGR opened at $101.01 on Tuesday. The firm’s fifty day moving average price is $97.30 and its two-hundred day moving average price is $92.65. The stock has a market cap of $6.72 billion, a PE ratio of 41.91 and a beta of 0.83. Ingredion has a fifty-two week low of $73.82 and a fifty-two week high of $101.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.88.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, November 2nd. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The firm had revenue of $1.76 billion for the quarter. Ingredion had a net margin of 2.45% and a return on equity of 17.13%. During the same period in the previous year, the firm posted $1.77 EPS. As a group, sell-side analysts predict that Ingredion will post 6.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 24th. Investors of record on Monday, January 3rd will be issued a $0.65 dividend. The ex-dividend date is Friday, December 31st. This represents a $2.60 annualized dividend and a yield of 2.57%. Ingredion’s payout ratio is 107.88%.

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its holdings in shares of Ingredion by 39.0% during the fourth quarter. State of Alaska Department of Revenue now owns 14,297 shares of the company’s stock valued at $1,381,000 after purchasing an additional 4,012 shares during the period. Bank of New Hampshire raised its holdings in shares of Ingredion by 57.8% during the fourth quarter. Bank of New Hampshire now owns 10,812 shares of the company’s stock valued at $1,045,000 after purchasing an additional 3,962 shares during the period. HBW Advisory Services LLC acquired a new position in shares of Ingredion during the fourth quarter valued at about $327,000. Crossmark Global Holdings Inc. raised its holdings in shares of Ingredion by 36.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 9,612 shares of the company’s stock valued at $929,000 after purchasing an additional 2,580 shares during the period. Finally, Moors & Cabot Inc. acquired a new position in shares of Ingredion during the third quarter valued at about $637,000. Institutional investors and hedge funds own 84.75% of the company’s stock.

Ingredion Company Profile

Ingredion, Inc manufactures and sells sweetener, starches, nutrition ingredients, and biomaterial solutions derived from the wet milling and processing of corn and other starch based materials. Its activities include turning corn, tapioca, potatoes and other vegetables and fruits into value added ingredients and biomaterials for the food, beverage, paper and corrugating, brewing, and other industries.

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