Ingredion (NYSE:INGR – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $6.90-$7.45 for the period, compared to the consensus earnings per share estimate of $7.14. The company issued revenue guidance of -.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of Ingredion from a buy rating to a hold rating in a research note on Saturday, May 14th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $107.00.
Ingredion Stock Down 0.7 %
Shares of INGR stock traded down $0.61 on Tuesday, hitting $84.90. The stock had a trading volume of 6,915 shares, compared to its average volume of 354,857. Ingredion has a 52-week low of $81.25 and a 52-week high of $101.89. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.96 and a current ratio of 1.72. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 12.61 and a beta of 0.76. The stock’s 50 day moving average is $89.70 and its 200-day moving average is $88.92.
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Ingredion (NYSE:INGR – Get Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.18. Ingredion had a net margin of 6.13% and a return on equity of 14.53%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the firm posted $2.05 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, research analysts expect that Ingredion will post 7.3 earnings per share for the current year.
Insider Buying and Selling at Ingredion
In related news, VP Valdirene Bastos-Evans sold 1,958 shares of the stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $85.52, for a total value of $167,448.16. Following the sale, the vice president now owns 7,375 shares of the company’s stock, valued at approximately $630,710. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.68% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Ingredion
Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors boosted its position in shares of Ingredion by 42.3% during the 2nd quarter. Captrust Financial Advisors now owns 3,593 shares of the company’s stock valued at $319,000 after purchasing an additional 1,068 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in shares of Ingredion during the 2nd quarter valued at about $634,000. Goldman Sachs Group Inc. boosted its position in shares of Ingredion by 51.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 332,515 shares of the company’s stock valued at $29,315,000 after purchasing an additional 113,400 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Ingredion by 39.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 17,027 shares of the company’s stock valued at $1,501,000 after purchasing an additional 4,848 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Ingredion by 9.5% during the 2nd quarter. Sei Investments Co. now owns 35,095 shares of the company’s stock valued at $3,083,000 after purchasing an additional 3,039 shares in the last quarter. Institutional investors and hedge funds own 88.44% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.
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