The stock of Ingredion Incorporated (NYSE:INGR) decreased by -$1.28 on Friday to finish at $98.70, down -1.28 percent. The last five days have seen an average of 664,460 shares of common stock traded. 13 times new highs were reached in the current year, with a gain of $0.77. The average number of shares traded over the last 20 days was 387,460, while the average volume over the last 50 days totaled 352,408.
INGR stock dropped -9.26% since last month. On 08/11/23, the company’s shares reached a one-month low of $98.34. The stock touched a high of $113.46 on 05/22/23, after rallying from a low of $78.81 in 52 weeks. The price of INGR stock has risen by 0.79% or $0.77 this year, reaching a new high 13 times. Still, the stock price is down -13.01% from the 52-week high.
Insider Transactions
INGR stock investors should be aware that Ingredion Incorporated (INGR) stock had its last reported insider trading activity 27 days ago on Jul 18. On Jul 18, SVP, Chief Comm & Sust Officer Fernandes Larry sold 2,779 shares at $110.10 each. This transaction resulted in the insider making $305,968. On Jul 13, Fernandes Larry sold 300 shares at a price of US$110.00. After the transaction, the insider now owns 20,246 shares. SVP, Chief Comm & Sust Officer Fernandes Larry had earlier sold 1,921 shares on Jul 12 for $110.01 a share. The transaction was completed for $211,332.
Valuation Metrics
Ingredion Incorporated (INGR) has a trailing price-to-earnings (P/E) ratio of 11.52. Beta for the stock is 0.80. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.80, the price-to-book (PB) ratio of 1.94, and the price-to-cash flow ratio of 52.90.
Company paid $0.78 per share in dividends, an increase of 9.86% from $0.71 last year.
Financial Health
For the three months ended June 29, Ingredion Incorporated’s quick ratio was 1.00, while its current ratio was 1.90, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.57, and the total debt to equity ratio is 0.73. As far as profitability goes, gross margin for the trailing twelve months is 20.10% percent. Ingredion Incorporated’s operating margin stood at 10.70% for the same period. Based on annual data, it had gross profit of $1.49 billion and revenue of $7.95 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. INGR’s return on assets (ROA) during the last 12 months has been 7.60%. There was a 10.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 17.90%.
Earnings Surprise
According to Ingredion Incorporated’s quarterly financial report for the quarter that ended June 29, it had $1.94 billion in total debt versus $6.0 million in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.07 billion, while revenues rose by 1.21% to $2.14 billion. It was predicted that Ingredion Incorporated’s quarterly earnings would be $2.32, but it ended up being $2.33, beating the consensus by -0.40%. EBITDA was $306.0 million for the quarter. At the end of Ingredion Incorporated’s most recent quarter ended June 29, its liabilities totaled 4.21 billion, while its total debt was $2.46 billion. Equity owned by shareholders amounts to $66.14 million.
Technical Picture
Here’s a quick look at Ingredion Incorporated’s (INGR) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 15.84%, suggesting the stock is oversold, with a 38.00% historical volatility rate.
The stochastic %K and %D were 8.76% and 15.37% respectively, while the average true range (ATR) was 2.33. Based on the 14-day stochastic reading of 2.59%, the RSI (14) reading is 23.51%. On the 9-day MACD Oscillator, the stock is at -6.14, and the 14-day reading is at -7.67.
Analyst Ratings
Analysts have assigned Ingredion Incorporated (INGR) an Overweight rating. INGR is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 3 others recommend it as a buy.
What is INGR’s price target for the next 12 months?
The current consensus forecast for the stock is between $113.00 and $132.00, with a median target price of $118.00. In analyzing these forecasts, the average price target given by analysts for Ingredion Incorporated (INGR) is $122.00.
