Ingredion (NYSE:INGR) Given New $147.00 Price Target at BMO Capital Markets

Ingredion (NYSE:INGR) had its price target increased by equities research analysts at BMO Capital Markets from $128.00 to $147.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective suggests a potential downside of 3.93% from the company’s previous close.

INGR has been the subject of a number of other reports. Barclays upped their price target on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group increased their target price on Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Oppenheimer boosted their price target on Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Ingredion currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

Ingredion Trading Down 1.2 %

NYSE:INGR traded down $1.85 on Wednesday, hitting $153.01. 310,219 shares of the stock were exchanged, compared to its average volume of 374,507. The stock has a market cap of $9.95 billion, a PE ratio of 15.69, a PEG ratio of 1.21 and a beta of 0.73. Ingredion has a fifty-two week low of $96.20 and a fifty-two week high of $155.44. The company has a current ratio of 2.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average of $135.21 and a 200-day moving average of $124.75.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $2.33 earnings per share. Ingredion’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities analysts expect that Ingredion will post 10.05 earnings per share for the current fiscal year.

Insider Transactions at Ingredion

In related news, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,595.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO James P. Zallie sold 22,550 shares of Ingredion stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $134.14, for a total value of $3,024,857.00. Following the completion of the transaction, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,046,374.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the sale, the chief executive officer now directly owns 52,530 shares in the company, valued at approximately $7,040,595.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,356 shares of company stock valued at $3,400,709. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Ingredion

Several institutional investors have recently added to or reduced their stakes in INGR. KBC Group NV lifted its holdings in Ingredion by 12.2% in the third quarter. KBC Group NV now owns 1,726 shares of the company’s stock worth $237,000 after acquiring an additional 187 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Ingredion by 3.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 21,396 shares of the company’s stock valued at $2,940,000 after purchasing an additional 670 shares during the period. Victory Capital Management Inc. grew its stake in Ingredion by 124.8% during the 3rd quarter. Victory Capital Management Inc. now owns 61,575 shares of the company’s stock worth $8,462,000 after buying an additional 34,189 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Ingredion in the third quarter worth $303,000. Finally, Versor Investments LP lifted its stake in Ingredion by 52.8% in the third quarter. Versor Investments LP now owns 8,800 shares of the company’s stock valued at $1,209,000 after buying an additional 3,039 shares during the last quarter. 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.