Ingredion Incorporated (INGR) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Ingredion Incorporated (NYSE:INGR) from a strong sell rating to a sell rating in a research note released on Thursday morning.

A number of other analysts have also commented on INGR. Jefferies Group LLC reaffirmed a buy rating and issued a $145.00 price target on shares of Ingredion in a research note on Wednesday, June 14th. Zacks Investment Research lowered Ingredion from a buy rating to a hold rating in a research note on Tuesday, March 21st. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $125.00 price target on shares of Ingredion in a research note on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $143.80.

Ingredion (NYSE:INGR) opened at 118.85 on Thursday. The firm has a market cap of $8.51 billion, a P/E ratio of 18.39 and a beta of 0.57. The stock has a 50 day moving average of $117.83 and a 200-day moving average of $121.23. Ingredion has a 12 month low of $113.07 and a 12 month high of $140.00.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Ingredion had a return on equity of 20.94% and a net margin of 8.14%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.74 earnings per share. Equities research analysts predict that Ingredion will post $7.56 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Friday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, June 28th. Ingredion’s payout ratio is 31.01%.

A number of hedge funds have recently made changes to their positions in the company. Assetmark Inc. raised its stake in shares of Ingredion by 105.3% in the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock worth $118,000 after buying an additional 500 shares during the last quarter. Focused Wealth Management Inc acquired a new stake in shares of Ingredion during the fourth quarter worth approximately $125,000. Penserra Capital Management LLC raised its stake in shares of Ingredion by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,242 shares of the company’s stock worth $149,000 after buying an additional 108 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Ingredion by 30.0% in the first quarter. Global X Management Co. LLC now owns 1,325 shares of the company’s stock worth $160,000 after buying an additional 306 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Ingredion during the fourth quarter worth approximately $169,000. 85.53% of the stock is owned by institutional investors.

Ingredion Company Profile

Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “INGR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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