Ingredion Incorporated (NYSE: INGR) Receives “Buy” Consensus Recommendation from Brokerages

Ingredion Incorporated (NYSE: INGR) has been given a consensus rating of “Buy” from the six brokerages that currently cover the company, reports MarketBeat.com. Two equity research analysts rated the stock with a conservation rating and three gave the company a buy rating. The 12-month average price target among brokers who issued ratings on the stock in the past year is $ 108.80.

Several brokerage firms have published reports on INGR. BMO Capital Markets Upgraded Ingredion from ‘Market Yield’ to ‘Outstanding Yield’ and Raised its Share Price Target from $ 92.00 to $ 112.00 in Released Report Wednesday November 3. TheStreet downgraded Ingredion from a “b” rating to a “c +” rating in a report released on Tuesday, November 2. Credit Suisse Group upgraded Ingredion from “neutral” to “outperform” and raised its target price for the share from $ 93.00 to $ 110.00 in a report released on Wednesday, November 3. Barclays began covering Ingredion in a report on Tuesday. They set an “overweight” rating and a price target of $ 115.00 on the stock. Finally, Zacks Investment Research downgraded Ingredion from a “sell” rating to a “conservation” rating and set a target price of $ 107.00 on the stock in a report released on Wednesday, November 3.

NYSE INGR shares opened at $ 99.03 on Tuesday. The stock has a market cap of $ 6.64 billion, a P / E ratio of 41.09 and a beta of 0.81. The company has a current ratio of 1.88, a quick ratio of 1.13, and a debt ratio of 0.56. Ingredion has a 12 month low of $ 70.69 and a 12 month high of $ 99.31. The company’s fifty-day simple moving average is $ 92.06 and its 200-day simple moving average is $ 91.58.

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Ingredion (NYSE: INGR) last released its results on Tuesday, November 2. The company reported EPS of $ 1.67 for the quarter, beating the consensus estimate of $ 1.45 by $ 0.22. Ingredion achieved a return on equity of 17.13% and a net margin of 2.45%. During the same period last year, the company earned $ 1.77 per share. On average, equity analysts expect Ingredion to post 6.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 25. Shareholders of record on Monday October 4 received a dividend of $ 0.65 per share. This is an increase from Ingredion’s previous quarterly dividend of $ 0.64. The ex-dividend date was Friday October 1. This represents an annualized dividend of $ 2.60 and a dividend yield of 2.63%. Ingredion’s dividend payout rate is 107.88%.

Institutional investors and hedge funds have recently changed their positions in the company. Deprince Race & Zollo Inc. acquired a new equity interest in Ingredion during the first quarter valued at approximately $ 16,713,000. Polaris Capital Management LLC increased its stake in Ingredion shares by 0.9% during the second quarter. Polaris Capital Management LLC now owns 534,700 shares of the company valued at $ 48,390,000 after purchasing an additional 5,000 shares during the period. The Manufacturers Life Insurance Company increased its position in Ingredion by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 79,118 shares of the company valued at $ 7,160,000 after purchasing an additional 4,073 shares during the period. Massachusetts Financial Services Co. MA increased its position in Ingredion by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,000,254 shares of the company valued at $ 90,523,000 after purchasing an additional 13,779 shares during the period. Finally, Federated Hermes Inc. strengthened its position in Ingredion by 3.4% in the second quarter. Federated Hermes Inc. now owns 273,537 shares of the company valued at $ 24,755,000 after purchasing an additional 9,080 shares during the period. Institutional investors and hedge funds hold 84.94% of the company’s shares.

Ingredion Company Profile

Ingredion, Inc manufactures and sells sweeteners, starches, nutritional ingredients, and biomaterial solutions derived from the wet grinding and processing of corn and other starch-based materials. Its activities include the processing of corn, tapioca, potatoes and other vegetables and fruits into value-added ingredients and biomaterials for food, beverages, paper and corrugated board, brewery and other industries.

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