UBS Group Issues Positive Forecast for Ingredion (NYSE:INGR) Stock Price

Ingredion (NYSE:INGR - Get Free Report) had its price target increased by equities research analysts at UBS Group from $149.00 to $151.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price target suggests a potential upside of 10.98% from the company's previous close.

A number of other research firms have also recently issued reports on INGR. Oppenheimer cut their target price on shares of Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of Ingredion from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 8th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ingredion has a consensus rating of "Moderate Buy" and an average price target of $151.40.

Ingredion Price Performance

INGR traded down $0.67 during midday trading on Wednesday, reaching $136.06. 449,879 shares of the company's stock were exchanged, compared to its average volume of 469,662. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.10 and a beta of 0.72. The company has a quick ratio of 1.86, a current ratio of 2.85 and a debt-to-equity ratio of 0.44. Ingredion has a one year low of $112.21 and a one year high of $155.44. The business has a 50-day simple moving average of $137.33 and a two-hundred day simple moving average of $133.87.

Ingredion (NYSE:INGR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.53. Ingredion had a net margin of 8.53% and a return on equity of 19.75%. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. Ingredion's quarterly revenue was down 3.7% compared to the same quarter last year. As a group, research analysts predict that Ingredion will post 11.14 EPS for the current year.

Insider Activity

In other news, SVP Larry Fernandes sold 2,400 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the transaction, the senior vice president owned 31,996 shares of the company's stock, valued at $4,345,696.72. The trade was a 6.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ingredion

Several institutional investors have recently added to or reduced their stakes in INGR. Alpine Bank Wealth Management bought a new stake in Ingredion in the 1st quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ingredion by 653.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after buying an additional 196 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Ingredion during the 1st quarter worth about $32,000. Ameriflex Group Inc. acquired a new position in shares of Ingredion during the 4th quarter worth about $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Ingredion by 40.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after purchasing an additional 80 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.