Are Ingredion (NYSE:INGR) Shares a Sell Now? Citigroup Has Downgraded Stock

July 13, 2018 - By Joseph Norton

Ingredion Incorporated (NYSE:INGR) Logo

Investors sentiment increased to 1.01 in 2018 Q1. Its up 0.01, from 1 in 2017Q4. It improved, as 40 investors sold Ingredion Incorporated shares while 145 reduced holdings. 47 funds opened positions while 139 raised stakes. 59.83 million shares or 0.22% less from 59.96 million shares in 2017Q4 were reported.

Albert D Mason Inc holds 1.8% or 18,521 shares. 15,767 are owned by Balyasny Asset Limited Liability Co. Meiji Yasuda Asset Mngmt Ltd has 0.04% invested in Ingredion Incorporated (NYSE:INGR). Nomura Asset Limited accumulated 11,040 shares. State Board Of Administration Of Florida Retirement holds 99,926 shares or 0.04% of its portfolio. First Personal Fincl Services invested in 44 shares. Cohen Klingenstein Ltd owns 13,598 shares or 0.25% of their US portfolio. Panagora Asset Mngmt has invested 0.1% in Ingredion Incorporated (NYSE:INGR). Cambridge Rech Advsrs Incorporated stated it has 3,003 shares. South Dakota Invest Council reported 0.02% in Ingredion Incorporated (NYSE:INGR). Goldman Sachs Gru reported 0.03% in Ingredion Incorporated (NYSE:INGR). Schroder Investment Mgmt Gru holds 5,740 shares or 0% of its portfolio. Bancorporation invested in 2,499 shares or 0% of the stock. Shell Asset Management Com has 237,040 shares. 457 are held by Stratos Wealth Partners.

Ingredion (NYSE:INGR) Receives a Downgrade

In an analyst note shared with investors on Friday, 13 July, Citigroup cut shares of Ingredion (NYSE:INGR) to a lower “Sell” rating from the previous “Neutral” rating.

Ingredion Incorporated (NYSE:INGR) Ratings Coverage

Among 5 analysts covering Ingredion (NYSE:INGR), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. Ingredion has $130 highest and $115 lowest target. $123.33’s average target is 24.24% above currents $99.27 stock price. Ingredion had 5 analyst reports since May 4, 2018 according to SRatingsIntel. The rating was upgraded by Vertical Group on Wednesday, June 27 to “Buy”. Credit Suisse maintained the stock with “Outperform” rating in Friday, May 4 report. The firm has “Hold” rating by Citigroup given on Friday, May 4. The rating was maintained by BMO Capital Markets with “Market Perform” on Friday, May 4. Stephens downgraded Ingredion Incorporated (NYSE:INGR) on Friday, June 22 to “Equal-Weight” rating.

The stock decreased 10.38% or $11.5 during the last trading session, reaching $99.27. About 2.38M shares traded or 368.13% up from the average. Ingredion Incorporated (NYSE:INGR) has declined 2.60% since July 13, 2017 and is downtrending. It has underperformed by 15.17% the S&P500.

Analysts await Ingredion Incorporated (NYSE:INGR) to report earnings on August, 7. They expect $1.96 earnings per share, up 3.70 % or $0.07 from last year’s $1.89 per share. INGR’s profit will be $141.59M for 12.66 P/E if the $1.96 EPS becomes a reality. After $1.94 actual earnings per share reported by Ingredion Incorporated for the previous quarter, Wall Street now forecasts 1.03 % EPS growth.

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company has market cap of $7.17 billion. The firm operates through four divisions: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It has a 13.64 P/E ratio. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins and glucose, and syrup solids, as well as food-grade and industrial starches, and biomaterials.

More notable recent Ingredion Incorporated (NYSE:INGR) news were published by: Streetinsider.com which released: “Ingredion (INGR) Prelim. Q2 EPS Misses Views, Lowers FY Guidance” on July 12, 2018, also Seekingalpha.com with their article: “Ingredion -4.3% on forecast cut, cost-savings program” published on July 12, 2018, Benzinga.com published: “7 Stocks To Watch For July 13, 2018” on July 13, 2018. More interesting news about Ingredion Incorporated (NYSE:INGR) were released by: Benzinga.com and their article: “24 Stocks Moving In Friday’s Mid-Day Session” published on July 13, 2018 as well as Nasdaq.com‘s news article titled: “Mid-Day Market Update: Dow Rises 100 Points; Auris Medical Shares Slide” with publication date: July 13, 2018.

Ingredion Incorporated (NYSE:INGR) Institutional Positions Chart

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