Barclays Reaffirms Their Hold Rating on Ingredion (INGR)
In a report released yesterday, Benjamin Theurer from Barclays maintained a Hold rating on Ingredion, with a price target of $124.00. The company’s shares closed yesterday at $106.49.
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According to TipRanks, Theurer is a 3-star analyst with an average return of 3.0% and a 48.11% success rate. Theurer covers the Consumer Defensive sector, focusing on stocks such as Hormel Foods, Coca Cola Femsa SAB De CV, and Tyson Foods.
Ingredion has an analyst consensus of Hold, with a price target consensus of $125.50.
Based on Ingredion’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.82 billion and a net profit of $171 million. In comparison, last year the company earned a revenue of $1.87 billion and had a net profit of $188 million
Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INGR in relation to earlier this year.
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