Ingredion (NYSE:INGR) Cut to Strong Sell at Zacks Research

Ingredion (NYSE:INGR) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

A number of other equities research analysts also recently issued reports on the stock. Stephens reduced their price objective on shares of Ingredion from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, November 6th. UBS Group reduced their target price on Ingredion from $108.00 to $104.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Weiss Ratings upgraded Ingredion from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Finally, Barclays decreased their price target on Ingredion from $118.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $115.00.

Ingredion Trading Down 0.8%

Shares of INGR stock opened at $92.00 on Monday. The stock has a market cap of $5.80 billion, a P/E ratio of 10.47, a price-to-earnings-growth ratio of 0.89 and a beta of 0.63. Ingredion has a 1 year low of $90.14 and a 1 year high of $123.49. The company has a current ratio of 2.01, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $97.19 and a 200 day simple moving average of $105.04.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, November 5th. The company reported $2.28 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.31). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. Ingredion had a return on equity of 14.36% and a net margin of 7.83%. Ingredion’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business earned $2.75 EPS. On average, research analysts predict that Ingredion will post 9.49 earnings per share for the current fiscal year.

Institutional Trading of Ingredion

A number of hedge funds have recently made changes to their positions in INGR. South Dakota Investment Council grew its holdings in Ingredion by 9.0% during the 3rd quarter. South Dakota Investment Council now owns 41,087 shares of the company’s stock worth $3,937,000 after acquiring an additional 3,400 shares during the last quarter. Bridges Investment Management Inc. raised its stake in shares of Ingredion by 1.1% during the third quarter. Bridges Investment Management Inc. now owns 10,630 shares of the company’s stock valued at $1,018,000 after acquiring an additional 116 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Ingredion during the third quarter worth $2,287,000. Bessemer Group Inc. lifted its holdings in shares of Ingredion by 66.1% during the third quarter. Bessemer Group Inc. now owns 284 shares of the company’s stock worth $27,000 after purchasing an additional 113 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of Ingredion by 16.5% in the third quarter. Hantz Financial Services Inc. now owns 1,115 shares of the company’s stock worth $107,000 after purchasing an additional 158 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

About Ingredion

Ingredion Incorporated is a global ingredient solutions company that transforms corn, tapioca, potato and other plant-based materials into ingredients used by manufacturers. Its products include starches, sweeteners, glucose syrups, dextrose, maltodextrins, plant proteins and texturizers. The company’s ingredients are used in food and beverages, as well as in applications such as animal nutrition, brewing, pharmaceuticals, paper and packaging. Ingredion works with customers to develop ingredients and formulations that support product texture, taste, nutrition and performance.