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Ingredion (INGR) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Ingredion (NYSE:INGR) from a strong sell rating to a hold rating in a research note released on Wednesday.

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 brokerages have also recently commented on INGR. ValuEngine upgraded Ingredion from a strong sell rating to a sell rating in a report on Thursday, September 27th. Citigroup dropped their target price on Ingredion from $95.00 to $89.00 and set a sell rating for the company in a report on Wednesday, October 24th. Finally, Jefferies Financial Group lifted their target price on Ingredion to $145.00 and gave the stock a buy rating in a report on Monday, November 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $124.50. NYSE INGR opened at $91.07 on Wednesday. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.20 and a beta of 0.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.50 and a quick ratio of 1.53. Ingredion has a 1-year low of $87.02 and a 1-year high of $146.28.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, November 1st. The company reported $1.70 earnings per share for the quarter, meeting the consensus estimate of $1.70. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Ingredion had a return on equity of 17.55% and a net margin of 7.40%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. As a group, research analysts forecast that Ingredion will post 6.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Wednesday, January 2nd will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, December 31st. Ingredion’s dividend payout ratio (DPR) is 32.47%.

In other news, VP Christine M. Castellano sold 13,261 shares of Ingredion stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $105.19, for a total value of $1,394,924.59. Following the completion of the transaction, the vice president now owns 30,130 shares in the company, valued at approximately $3,169,374.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website . Also, Director Barbara A. Klein sold 1,775 shares of Ingredion stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $103.46, for a total value of $183,641.50. The disclosure for this sale can be found here . In the last quarter, insiders sold 52,303 shares of company stock valued at $5,502,781. Company insiders own 1.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in INGR. Alps Advisors Inc. bought a new stake in shares of Ingredion during the 2nd quarter worth approximately $639,000. Toronto Dominion Bank lifted its stake in shares of Ingredion by 45.7% during the 2nd quarter. Toronto Dominion Bank now owns 7,270 shares of the company’s stock worth $804,000 after acquiring an additional 2,281 shares during the last quarter. Strs Ohio lifted its stake in shares of Ingredion by 67.5% during the 2nd quarter. Strs Ohio now owns 11,288 shares of the company’s stock worth $1,249,000 after acquiring an additional 4,547 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Ingredion by 5.2% during the 2nd quarter. SG Americas Securities LLC now owns 17,960 shares of the company’s stock worth $1,988,000 after acquiring an additional 889 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Ingredion by 3.1% during the 2nd quarter. Swiss National Bank now owns 237,700 shares of the company’s stock worth $26,313,000 after acquiring an additional 7,200 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

About Ingredion

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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