Oppenheimer Boosts Ingredion (NYSE:INGR) Price Target to $147.00

Ingredion (NYSE:INGR) had its price objective lifted by Oppenheimer from $138.00 to $147.00 in a report published on Monday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Barclays raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $122.00 to $145.00 in a research report on Friday, August 9th. StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their price objective on shares of Ingredion from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Finally, UBS Group increased their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.83.

Ingredion Stock Performance

Shares of INGR stock opened at $135.52 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. Ingredion has a one year low of $90.72 and a one year high of $138.37. The company’s 50-day simple moving average is $134.52 and its 200-day simple moving average is $123.22. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.22 and a beta of 0.72.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the company posted $2.32 earnings per share. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. Equities analysts anticipate that Ingredion will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were paid a $0.80 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $3.20 annualized dividend and a dividend yield of 2.36%. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. Ingredion’s dividend payout ratio (DPR) is presently 32.06%.

Insider Buying and Selling at Ingredion

In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $134.02, for a total value of $134,020.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,070.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert A. Ritchie sold 1,195 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the completion of the sale, the senior vice president now owns 15,906 shares in the company, valued at $1,988,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,551 shares of company stock worth $3,550,084. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Ingredion during the second quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings in Ingredion by 102.6% during the first quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after buying an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ingredion during the second quarter worth approximately $33,000. Family Firm Inc. bought a new stake in Ingredion during the second quarter worth approximately $36,000. Finally, International Assets Investment Management LLC bought a new stake in Ingredion during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Company Profile

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.