Ingredion (NYSE:INGR) Raised to Buy at Wall Street Zen

Ingredion (NYSE:INGR) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other research firms have also recently issued reports on INGR. Barclays reiterated an “equal weight” rating and issued a $124.00 target price (down from $168.00) on shares of Ingredion in a research note on Thursday, November 6th. Industrial Alliance Securities set a $124.00 price objective on shares of Ingredion in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingredion in a research report on Monday, December 29th. Stephens reduced their target price on shares of Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Finally, BMO Capital Markets dropped their price target on shares of Ingredion from $143.00 to $123.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $124.33.

Ingredion Price Performance

Shares of NYSE:INGR opened at $109.74 on Friday. 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 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 $109.80 and a 200 day simple moving average of $121.59. The company has a market cap of $6.97 billion, a PE ratio of 10.94, a P/E/G ratio of 0.88 and a beta of 0.72.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.02. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Ingredion had a net margin of 9.07% and a return on equity of 18.14%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, sell-side analysts anticipate that Ingredion will post 11.14 EPS for the current year.

Institutional Trading of Ingredion

A number of institutional investors have recently made changes to their positions in the stock. WPG Advisers LLC increased its stake in shares of Ingredion by 100.8% during the third quarter. WPG Advisers LLC now owns 245 shares of the company’s stock valued at $30,000 after acquiring an additional 123 shares during the period. Hantz Financial Services Inc. boosted its stake in Ingredion by 810.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $35,000 after purchasing an additional 227 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Ingredion during the 2nd quarter valued at $40,000. Root Financial Partners LLC acquired a new position in shares of Ingredion during the 3rd quarter valued at $36,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Ingredion in the 1st quarter worth $41,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.