BMO Capital Markets cut their price target on shares of Ingredion (NASDAQ: INGR) from $83.00 to $75.00 in a research note issued on Tuesday, Stock Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 21.56% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Ingredion in a research note to investors on Tuesday. They now have a $67.00 price target on the stock, down previously from $73.00. Separately, analysts at Gabelli downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. Finally, analysts at Barclays Capital initiated coverage on shares of Ingredion in a research note to investors on Thursday, June 13th. They set an “equal weight” rating and a $78.00 price target on the stock.
Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.50.
Shares of Ingredion (NASDAQ: INGR) traded up 1.70% during mid-day trading on Tuesday, hitting $62.75. Ingredion has a one year low of $45.42 and a one year high of $74.31. The stock’s 50-day moving average is currently $67.28. The company has a market cap of $4.861 billion and a P/E ratio of 10.88.
Ingredion (NASDAQ: INGR) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.08. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.67 billion. Ingredion’s revenue was up .6% compared to the same quarter last year. Ingredion has set its FY13 guidance at $5.60-6.00 EPS. Analysts expect that Ingredion will post $5.74 EPS for the current fiscal year.
Ingredion Incorporated (NASDAQ: INGR), formerly Corn Products International, Inc is a global manufacturer and supplier of starch and sweetener ingredients to a range of industries, including packaged food, beverage, brewing and industrial customers.