Revenue Update on Ingredion Inc(NYSE:INGR)

Ingredion Inc(NYSE:INGR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $1.46B. Analysts estimated a revenue of $1.44B. Earnings per share were $1.73. Analysts had estimated an EPS of $1.64.

In a different note, On Jul 15, 2016, Jefferies said it Maintains its rating on Ingredion Inc. In the research note, the firm Raises the price-target to $136.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 15, 2016, Citigroup said it Maintains its rating on Ingredion Inc. In the research note, the firm Raises the price-target to $130.00 per share. The shares have been rated ‘Buy’ by the firm.

Ingredion Inc (INGR) made into the market gainers list on Thursdays trading session with the shares advancing 0.40% or 0.53 points. Due to strong positive momentum, the stock ended at $134.19, which is also near the day’s high of $134.39. The stock began the session at $133.37 and the volume stood at 2,95,292 shares. The 52-week high of the shares is $134.39 and the 52 week low is $82.49. The company has a current market capitalization of $9,686 M and it has 7,21,82,000 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 8, 2016, James P. Zallie (Ex VP Global Spec & Pres Amer) sold 16,900 shares at $132.00 per share price.Also, On Jun 10, 2016, Jorgen Kokke (Sr VP & Pres, Asia-Pac & EMEA) sold 10,658 shares at $119.47 per share price.On May 27, 2016, Diane J Frisch (Sr. VP, Human Resources) sold 6,400 shares at $118.99 per share price, according to the Form-4 filing with the securities and exchange commission.

Ingredion Incorporated is a manufacturer and supplier of starch and sweetener ingredients to a range of industries including packaged food beverage brewing industrial pharmaceutical and personal care customers. The Company operates in four business segments: North America South America Asia Pacific and EMEA. North America segment consists of operations in the United States Canada and Mexico and produces a range of both sweeteners and starches. South America segment includes 11 plants that produce regular modified waxy and tapioca starches fructose and maltose syrups and syrup solids dextrins and maltodextrins dextrose specialty starches caramel color sorbitol and vegetable adhesives. Asia Pacific segment manufactures corn-based products in South Korea Australia and China and tapioca-based products in Thailand. EMEA segment includes five plants that produce modified and specialty starches glucose and dextrose in England Germany and Pakistan.

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