Ingredion Incorporated (INGR) – What Are Brokerages Thinking About This Stock?

Shares of Ingredion Incorporated (NYSE:INGR – Get Free Report) have received an average recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $119.83.

Several research firms have recently commented on INGR. Zacks Research raised shares of Ingredion from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Weiss Ratings raised Ingredion from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Barclays lowered their price target on Ingredion from $118.00 to $115.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th. Finally, UBS Group reduced their price target on Ingredion from $108.00 to $104.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th.

Check Out Our Latest Stock Analysis on Ingredion

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Ingredion during the 2nd quarter worth $618,834,000. Dimensional Fund Advisors LP lifted its position in Ingredion by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,115,136 shares of the company’s stock valued at $350,952,000 after acquiring an additional 175,600 shares during the last quarter. First Trust Advisors LP boosted its stake in Ingredion by 53.1% in the first quarter. First Trust Advisors LP now owns 3,054,149 shares of the company’s stock valued at $344,080,000 after acquiring an additional 1,059,324 shares in the last quarter. Equity Investment Corp lifted its holdings in shares of Ingredion by 24.6% during the 3rd quarter. Equity Investment Corp now owns 1,085,601 shares of the company’s stock valued at $104,011,000 after purchasing an additional 214,536 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Ingredion by 46.9% in the 1st quarter. Quantinno Capital Management LP now owns 930,771 shares of the company’s stock valued at $104,861,000 after purchasing an additional 297,007 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Stock Up 0.9%

INGR stock opened at $97.69 on Thursday. The stock has a market capitalization of $6.16 billion, a P/E ratio of 10.65, a P/E/G ratio of 0.83 and a beta of 0.63. Ingredion has a fifty-two week low of $93.30 and a fifty-two week high of $123.49. The business has a 50-day moving average of $98.04 and a 200-day moving average of $105.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.80 and a quick ratio of 1.92.

Ingredion (NYSE:INGR – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. Ingredion had a return on equity of 15.40% and a net margin of 8.21%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the firm posted $2.87 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Ingredion will post 10.62 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Thursday, October 1st were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, October 1st. This is a positive change from Ingredion’s previous quarterly dividend of $0.82. Ingredion’s dividend payout ratio is 36.21%.

About Ingredion

(Get Free Report)

Ingredion Incorporated (NYSE: INGR) is a global ingredient solutions provider that develops and produces starches, sweeteners, texturizers, fibers, plant-based proteins and other specialty ingredients. The company processes plant-based raw materials, including corn, tapioca, potato, rice and other grains, into ingredients used by manufacturers across a range of industries.

Ingredion’s products support food and beverage applications such as bakery products, dairy and alternative dairy, confectionery, beverages and prepared foods.

Further Reading

Analyst Recommendations for Ingredion (NYSE:INGR)

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