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 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.

(A d)

The United States and China are fighting for new sources of lithium – the backbone of clean energy. Lithium mining operations have been declared a national emergency. Biden has ordered the strengthening of the US lithium supply chain and investors in lithium exploration companies are rejoicing. We may be entering a decades-long lithium bull run. You don’t want to miss it.

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.

See also: How the Dogs of the Dow Strategy Works

This instant news alert was powered by narrative science technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Ingredion now?

Before you consider Ingredion, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of… and Ingredion was not on the list.

Although Ingredion currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here

Source link

Comments are closed.