Brokerages Set Ingredion Incorporated (NYSE:INGR) Target Price at $126.67

Shares of Ingredion Incorporated (NYSE:INGR) have been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $126.67.

A number of research analysts have weighed in on the company. Stephens reissued an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a report on Wednesday, February 7th. The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $122.00 to $135.00 in a research note on Thursday, February 15th. Barclays raised their price objective on Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Finally, StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd.

Ingredion Stock Up 0.0 %

INGR stock opened at $114.35 on Wednesday. Ingredion has a fifty-two week low of $89.54 and a fifty-two week high of $118.83. The business’s 50-day moving average is $115.16 and its two-hundred day moving average is $107.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.92. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.07 and a beta of 0.81.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. Ingredion’s revenue was down 3.3% on a year-over-year basis. As a group, analysts forecast that Ingredion will post 9.62 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Monday, April 1st were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s dividend payout ratio is currently 32.50%.

Insider Buying and Selling

In related news, CEO James P. Zallie sold 54,581 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the sale, the chief executive officer now owns 99,246 shares in the company, valued at $11,635,601.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO James P. Zallie sold 54,581 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the sale, the chief executive officer now owns 99,246 shares in the company, valued at $11,635,601.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Davida Marie Gable sold 1,968 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $117.38, for a total value of $231,003.84. Following the transaction, the vice president now owns 1,723 shares of the company’s stock, valued at approximately $202,245.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,921 shares of company stock worth $6,903,045. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingredion

Several institutional investors have recently bought and sold shares of INGR. Jones Financial Companies Lllp purchased a new position in Ingredion in the fourth quarter worth about $25,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Ingredion by 63.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after purchasing an additional 147 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Ingredion by 414.1% in the 3rd quarter. Allworth Financial LP now owns 401 shares of the company’s stock valued at $39,000 after purchasing an additional 323 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Ingredion by 40.2% in the 4th quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after purchasing an additional 103 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Ingredion by 59.8% in the 4th quarter. National Bank of Canada FI now owns 425 shares of the company’s stock valued at $47,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

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.