Stephens analyst Farha Aslam reiterated a Hold rating on Ingredion (NYSE: INGR) yesterday and set a price target of $110. The company’s shares closed yesterday at $99.46, close to its 52-week low of $98.53.
According to TipRanks.com, Aslam is a 4-star analyst with an average return of 13.4% and a 65.7% success rate. Aslam covers the Consumer Goods sector, focusing on stocks such as Archer Daniels Midland, Green Plains Inc, and Calavo Growers.
Currently, the analyst consensus on Ingredion is a Moderate Buy with an average price target of $122.50.
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Based on Ingredion’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.47 billion and net profit of $140 million. In comparison, last year the company earned revenue of $1.46 billion and had a net profit of $130 million.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock.
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Ingredion, Inc. manufactures and sells sweetener, starches, nutrition ingredients, and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials. Its activities include turning corn, tapioca, potatoes and other vegetables and fruits into value-added ingredients and biomaterials for the food, beverage, paper and corrugating, brewing, and other industries. It operates through the following geographical segments: North America, South America, Asia Pacific, and Europe, the Middle East, and Africa. The company was founded in 1906 and is headquartered in Westchester, IL.
