Cyclacel Pharmaceuticals Inc (CYCC) Short Interest Update Ingredion (INGR) Raised to Hold at Zacks Investment Research April 13th, 2019 - Comments Off on Ingredion (INGR) Raised to Hold at Zacks Investment Research - Filed Under - by Latisha Jones Tweet
Zacks Investment Research upgraded shares of Ingredion (NYSE:INGR) from a sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.
According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “ Get Ingredion alerts:
A number of other research analysts have also weighed in on INGR. Vertical Group lowered shares of Ingredion from a buy rating to a hold rating in a research report on Thursday, January 24th. ValuEngine lowered shares of Ingredion from a hold rating to a sell rating in a research report on Monday, February 4th. Finally, Seaport Global Securities initiated coverage on shares of Ingredion in a research report on Thursday, February 21st. They set a buy rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $117.80. Ingredion stock opened at $94.56 on Wednesday. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.21 and a beta of 0.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.26 and a quick ratio of 1.39. Ingredion has a fifty-two week low of $87.02 and a fifty-two week high of $131.99.
Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 5th. The company reported $1.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.01). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. Ingredion had a return on equity of 17.77% and a net margin of 7.31%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 EPS. Equities analysts forecast that Ingredion will post 7.14 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 1st will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, March 29th. Ingredion’s dividend payout ratio is currently 36.13%.
Several institutional investors and hedge funds have recently made changes to their positions in INGR. Capital Investment Advisory Services LLC acquired a new position in shares of Ingredion during the fourth quarter valued at about $30,000. Lavaca Capital LLC acquired a new position in shares of Ingredion during the fourth quarter valued at about $48,000. Oregon Public Employees Retirement Fund raised its position in shares of Ingredion by 10,975.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock valued at $50,000 after buying an additional 4,498,125 shares during the last quarter. Kinneret Advisory LLC acquired a new position in Ingredion in the fourth quarter worth about $77,000. Finally, Enlightenment Research LLC acquired a new position in Ingredion in the fourth quarter worth about $101,000. 88.73% of the stock is owned by institutional investors and hedge funds.
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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