Ingredion Incorporated (NYSE:INGR) Receives $124.33 Average Target Price from Analysts

Ingredion Incorporated (NYSE:INGR) has earned an average rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $124.3333.

A number of brokerages recently commented on INGR. Barclays restated an “equal weight” rating and set a $124.00 price objective (down from $168.00) on shares of Ingredion in a research note on Thursday, November 6th. Wall Street Zen cut Ingredion from a “buy” rating to a “hold” rating in a report on Saturday. Stephens reduced their price objective on Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Industrial Alliance Securities set a $124.00 price target on Ingredion in a research note on Thursday, November 6th. Finally, Oppenheimer set a $136.00 price objective on shares of Ingredion in a report on Wednesday, October 22nd.

Hedge Funds Weigh In On Ingredion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INGR. AQR Capital Management LLC boosted its position in shares of Ingredion by 143.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,191,118 shares of the company’s stock valued at $144,685,000 after purchasing an additional 701,063 shares during the period. Norges Bank acquired a new stake in Ingredion during the 2nd quarter worth about $82,779,000. Nordea Investment Management AB lifted its stake in Ingredion by 66.3% during the second quarter. Nordea Investment Management AB now owns 722,933 shares of the company’s stock valued at $97,531,000 after buying an additional 288,201 shares in the last quarter. Snyder Capital Management L P lifted its stake in Ingredion by 22.0% during the third quarter. Snyder Capital Management L P now owns 1,323,847 shares of the company’s stock valued at $161,655,000 after buying an additional 238,420 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Ingredion by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 7,487,354 shares of the company’s stock worth $825,556,000 after buying an additional 208,606 shares during the period. 85.27% of the stock is owned by institutional investors.

Ingredion Price Performance

Shares of NYSE:INGR opened at $117.38 on Tuesday. The company has a market cap of $7.46 billion, a PE ratio of 11.70, a P/E/G ratio of 0.94 and a beta of 0.71. Ingredion has a fifty-two week low of $102.31 and a fifty-two week high of $141.78. The firm has a 50-day simple moving average of $111.91 and a 200 day simple moving average of $118.42. The company has a quick ratio of 1.79, a current ratio of 2.75 and a debt-to-equity ratio of 0.41.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, February 3rd. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.07). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingredion had a return on equity of 18.14% and a net margin of 9.07%. On average, sell-side analysts anticipate that Ingredion will post 11.14 EPS for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Stockholders of record on Friday, January 2nd were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, January 2nd. Ingredion’s dividend payout ratio is currently 32.70%.

Ingredion Company Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.