Vertical Group upgraded shares of Ingredion (NYSE:INGR) from a hold rating to a buy rating in a report issued on Wednesday, MarketBeat.com reports.
Other equities analysts have also recently issued reports about the stock. Stephens cut shares of Ingredion from an overweight rating to an equal weight rating in a research report on Friday, June 22nd. ValuEngine cut shares of Ingredion from a hold rating to a sell rating in a research report on Friday, May 4th. Zacks Investment Research upgraded shares of Ingredion from a sell rating to a hold rating in a research report on Thursday, April 5th. Credit Suisse Group set a $130.00 price objective on shares of Ingredion and gave the stock a buy rating in a research report on Friday, May 4th. Finally, Citigroup cut shares of Ingredion from a buy rating to a neutral rating in a research report on Friday, May 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Ingredion currently has a consensus rating of Hold and a consensus target price of $137.00.
NYSE INGR opened at $111.67 on Wednesday. Ingredion has a twelve month low of $107.77 and a twelve month high of $146.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.59 and a current ratio of 2.52. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.24 and a beta of 0.75.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.05. Ingredion had a net margin of 8.71% and a return on equity of 19.75%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company posted $1.88 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. equities analysts expect that Ingredion will post 8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Monday, July 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, June 29th. Ingredion’s dividend payout ratio (DPR) is currently 31.17%.
In other Ingredion news, Chairman Ilene S. Gordon sold 28,141 shares of Ingredion stock in a transaction on Monday, May 14th. The shares were sold at an average price of $111.33, for a total transaction of $3,132,937.53. Following the completion of the sale, the chairman now owns 252,255 shares of the company’s stock, valued at approximately $28,083,549.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.
Several large investors have recently modified their holdings of INGR. Bedel Financial Consulting Inc. acquired a new stake in shares of Ingredion during the 1st quarter valued at $119,000. Focused Wealth Management Inc acquired a new stake in shares of Ingredion in the 4th quarter valued at $140,000. IBM Retirement Fund acquired a new stake in shares of Ingredion in the 1st quarter valued at $203,000. BKS Advisors LLC acquired a new stake in shares of Ingredion in the 1st quarter valued at $206,000. Finally, MML Investors Services LLC acquired a new stake in shares of Ingredion in the 4th quarter valued at $210,000. 85.62% of the stock is owned by institutional investors.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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