Zacks Investment Research Downgrades Ingredion (INGR) to Sell

Ingredion (NYSE:INGR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “

A number of other equities analysts have also weighed in on the company. ValuEngine raised Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Credit Suisse Group lowered Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 target price on the stock. in a research report on Wednesday, July 18th. Jefferies Financial Group reaffirmed a “buy” rating and set a $145.00 target price on shares of Ingredion in a research report on Friday, July 13th. Citigroup lowered Ingredion from a “neutral” rating to a “sell” rating in a research report on Friday, July 13th. Finally, Stephens reaffirmed a “hold” rating and set a $110.00 target price on shares of Ingredion in a research report on Friday, July 13th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $124.50.

Shares of INGR opened at $98.43 on Tuesday. The company has a current ratio of 2.46, a quick ratio of 1.48 and a debt-to-equity ratio of 0.54. Ingredion has a 52-week low of $89.48 and a 52-week high of $146.28. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.28 and a beta of 0.61.

Ingredion (NYSE:INGR) last issued its earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.01. Ingredion had a return on equity of 18.91% and a net margin of 8.40%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. Ingredion’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts predict that Ingredion will post 6.95 earnings per share for the current year.

Several large investors have recently modified their holdings of INGR. LSV Asset Management grew its holdings in Ingredion by 1.6% during the second quarter. LSV Asset Management now owns 2,483,381 shares of the company’s stock worth $274,910,000 after buying an additional 39,054 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Ingredion by 27.8% during the first quarter. Allianz Asset Management GmbH now owns 1,829,492 shares of the company’s stock worth $235,859,000 after buying an additional 398,071 shares in the last quarter. Bessemer Group Inc. grew its holdings in Ingredion by 62.2% during the second quarter. Bessemer Group Inc. now owns 1,034,059 shares of the company’s stock worth $114,472,000 after buying an additional 396,628 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Ingredion by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 942,477 shares of the company’s stock worth $104,338,000 after buying an additional 52,156 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Ingredion by 7.8% during the second quarter. Wells Fargo & Company MN now owns 867,103 shares of the company’s stock worth $95,988,000 after buying an additional 62,457 shares in the last quarter. 83.05% of the stock is currently owned by institutional investors.

About Ingredion

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

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