09-15-2017: Ingredion Corporation (INGR): Food Groups Struggle to Maintain Average Performance

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Ingredion Corporation

Ingredion Corporation (INGR) is an Illinois-based outgrowth of the former Corn Products Corporation. One major corn product was corn syrup fructose, used in sweeteners. Today, the caloric content and health benefits of same have been replaced by zero calorie artificial sweeteners. This trend is not lost on INGR, as it has extensive labs doing research on new artificial sweeteners.

Starches are anothe product used in gums and texture content of foods, and of course in carbohydrate products like pizza dough. That is why someone eating a pizza is featured on the main cover page of a company report. The corporation has an excellent website explaining its various products, their potential uses and the scope of its international operations worldwide. It seems food products are one area where the U.S. never lost a substantial competitive edge, once one gets beyone basic grain commodities where Latin America produces them cheaper for export.

The company appears to us to have fueled growth by aggressive acquisitions contributing to the bottom line of earnings, but there is only so long that trend can continue, even with extensive financing. North America still contributes 60% of sales with South America, Asia and Europe contributing the rest.

We feel the management is over-compensated for what it does. But the company has $6 billion in annual revenues so perhaps it can afford to pay well. Institutions are still net acquirers, even in this late bull market, and Dimensional Fund Advisors is somewhere among them.

The stock appears to stalled in a congestion area awaiting a breakout. Option trading is less attractive due to the fact that a comany this size still does not have much options activity, in fact not enough to qualify for a positive rating there.

As to which way this stock could break out, chart watchers are still aware of two very signficiant share price drops in one day last February and October. Most news at that time seemed to come from analysts touting the stock as a value play. Our own analysis puts this stock in more of a "marginal" but acceptable financial condition. We don't consider it a growth stock. Reasons to assume another break down is possible include the fact that the foods group as a whole is fairly weak and highly competitive. In selecting this stock for review, we might have best looked at other stronger ones in the food and additives group, because looking for one to play "catch-up" might not work so well in a weaker group overall. Retail grocery chains are having a hard time, and that relates directly to the consumption of INGR's products. 



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Ingredion Incorporated (INGR)                             Exchange: NYSE
5 Westbrook Corporate Center
Westchester, IL 60154            Sector: Consumer Goods
United States                    Industry:Processed & Packaged Goods

Ingredion Incorporated, together with its subsidiaries, produces and
sells starches and sweeteners for various industries. The company
operates through four segments: North America, South America, Asia
Pacific and Europe, and Middle East and Africa. 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. The company also provides animal feed
products; edible corn oil; refined corn oil to packers of cooking oil
and to producers of margarine, salad dressings, shortening, mayonnaise,
and other foods; and corn gluten feed used as protein feed for chickens,
pet food, and aquaculture. Its products are derived primarily from
processing corn and other starch-based materials, such as tapioca,
potato, and rice. The company serves food, beverage, paper and
corrugating products, brewing, pharmaceutical, textile, and personal
care industries, as well as animal feed and corn oil markets. The
company was formerly known as Corn Products International, Inc. and
changed its name to Ingredion Incorporated in June 2012. Ingredion
Incorporated was founded in 1906 and is headquartered in Westchester,
Illinois.

Last Trade: 124.55                           52-Week Range: 137.62 - 113.07
Employees: 11,000                            Avg.Volume:     389,934 Shares

Corporate Governance:
Pillar scores are Audit: 1; Board: 2; Shareholder Rights: 2; Compensation: 1.
         (A lower number means less governance risk.)

EPS:  6.65    Dividend Amount: $ 2.00          Yield:  1.60%
             Ex-Dividend Date: Jun 28, 2017    Payout Ratio:  30.08

Key Statistics:

    Trailing P/E:  18.65              Forward P/E (est.):  15.05
                                           Target Price: 132.13

Qrtly Stock Price Growth (yoy):  -4.97%               Beta:   0.48
Qrtly S&P Index   Growth (yoy):   0.10%        Short Ratio:   2.38%
    Qrtly Revenue Growth (yoy):  17.53%         Shares Out:  71730000
   Qrtly Earnings Growth (yoy):   0.00%

          Book Value:  37.36                    Debt/Equity:  72.40%
    Price/Book Value:   3.32        Operating Profit Margin:  14.66%
         Price/Sales:   1.53                  Profit Margin:   8.47%
         Market Cap:   8,896,000,000       Return on Equity:  19.44%
    Enterprise Value:               0      Return on Assets:   9.57%

    Operating Cash Flow:    807,000,000
         Free Cash Flow:    386,620,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             12/31/2016  12/31/2015  12/31/2014

  Total Revenue                              5,704,000   5,621,000   5,668,000
  Cost of Revenue                            4,302,000   4,379,000   4,553,000
  Gross Profit                               1,402,000   1,242,000   1,115,000

Operating Expenses:
  Research & Development                             0           0           0
  Selling, General & Administrative            575,000     554,000     501,000
  Non-Recurring Expenses                        19,000      28,000      33,000
  Other Operating Expenses                           0           0           0
  Total Operating Expenses                           0           0           0

Operating Income or Loss                       808,000     660,000     581,000

Income from Continuing Operations:
  Total Other Income/Expenses Net              -66,000     -61,000     -61,000
  Earnings Before Interest & Taxes             742,000     599,000     520,000
  Interest Expense                                   0           0           0
  Income Before Taxes                          742,000     599,000     520,000
  Income Tax Expense                           246,000     187,000     157,000
  Minority Interest                             30,000      36,000      30,000

Net Income from Continuing Op.s                485,000     402,000     355,000

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                   485,000     402,000     355,000
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares              485,000     402,000     355,000




Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         12/31/2016    12/31/2015    12/31/2014

  Net Income                               485,000       402,000       355,000

Operating Activities:
  Depreciation                             196,000       194,000       195,000
  Adjustments to Net Income                 96,000       100,000        90,000
  Changes in Accounts Recv'bls            -131,000       -29,000       -15,000
  Changes in Liabilities                   127,000        30,000        66,000
  Changes in Investories                   -19,000         9,000        -6,000
  Changes in other Oper'g Acts               6,000       -30,000        38,000

Total Cash Flow f Operations               771,000       686,000       731,000

Investing Activities:
  Capital Exenditures                     -284,000      -280,000      -276,000
  Investments                               -1,000        27,000       -23,000
  Other Cash Flows fr Investing           -404,000      -396,000         5,000

Total Cash Flows from Investing           -689,000      -649,000      -294,000

Financing Activities:
  Dividends Paid                          -141,000      -126,000      -128,000
  Sale of Purchase of Stock                 21,000       -20,000      -284,000
  Net Borrowings                           126,000        22,000        18,000
  Other Cash Flows fr Financing                  0             0         5,000

Total Cash Flows from Financing                  0      -116,000      -388,000

  Effect of Exchange Rate Chg               -4,000       -67,000       -43,000

Change in Cash & Cash Equiv.                78,000      -146,000         6,000



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          12/31/2016    12/31/2015    12/31/2014
Current Assets:
  Cash & Cash Equivalents                   512,000       434,000       580,000
  Short Term Investments                      4,000         6,000        34,000
  Net Receivables                           923,000       775,000       810,000
  Inventory                                 789,000       715,000       699,000
  Other Current Assets                       24,000        20,000        21,000
  Total Current Assets                    2,260,000     1,944,000     2,110,000

  Long-Term Investments                           0             0             0
  Property, Plant & Equipt                2,116,000     1,989,000     2,073,000
  Goodwill                                  784,000       601,000       478,000
  Intangible Assets                         502,000       410,000       290,000
  Accumulated Amortization                        0             0             0
  Other Assets                              121,000       117,000        96,000
  Deferred LT Asset Charges                   7,000         7,000         4,000

Total Assets                              5,782,000     5,074,000     5,085,000

Current Liabilities:
  Accounts Payable                          872,000       723,000       698,000
  Current Portion LT Debt                   106,000        19,000        23,000
  Other Current Liabilities                       0             0             0
  Total Current Liabilities                 978,000       742,000        721,000

  Long Term Debt                            872,000       723,000       698,000
  Other Liabilities                         106,000        19,000        23,000
  Deferred LT Liab. Charges                       0             0             0
  Minority Interest                          30,000        36,000        30,000
  Negative Goodwill                          30,000        36,000        30,000

Total Liabilities                         3,185,000     2,791,000     2,908,000

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                                1,000         1,000         1,000
  Retained Earnings                       2,899,000     2,552,000     2,275,000
  Treasury Stock                           -413,000      -467,000      -481,000
  Capital Surplus                         1,149,000     1,160,000     1,164,000
  Other Stockhohlder Equity              -1,071,000    -1,102,000      -782,000
  Total Stockholder Equity                2,565,000     2,144,000     2,177,000

Net Tangible Assets                       1,279,000     1,133,000     1,409,000


Ingredion Incorporated (INGR)               [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            1.5013          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate:  0.0000          Forward P/E Ratio < 28?    1.8605
Price/Sales Ratio < 2.3?   1.5033          Inventory/Sales < 5%?      0.3615
Sales < $1 Billion?        0.1753          Operating Margin < 7.5%?   0.5116

Balance Sheet Tests:
Debt/Equity < 0.40?        0.5525          Long-Term Debt Service:    1.4038
LTD Being Reduced?        -3.0000          Short-Term Debt Service:   3.0000
Current Ratio > 2?         1.1554          Working Capital >= 1.5?    0.6578
Leverage Ratio < 20%?      0.2443          Debt/Assets < 1?           3.0000
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    1.3283
Share Equity Increase:     2.1812          Market Cap.< 1.5 Billion?  0.1686
                                           Intangibles < 3% Assets?   0.1349
Income Tests:
Profit Margin < 7.5%?      1.1293          EPS Annual Growth > 10%?   0.0829
Dividend Yield > 2.0%?     1.2500          EPS 3-yr Growth > 15?      0.1098
Enterprise Value/Revenue   1.5598          EPS Growth Consistent?     2.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      0.7619
EPS Qrtly Growth > 10%?    0.0000          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%?  3.0000
Stock Performance Tests:
Volatility > 25%?          0.7136          % Held by Insiders < 5%?   3.0000
Beta > 1.25?               0.3840          % Held by Institut. < 50?  0.5779
50 Da MA > 200 Da MA?      0.0725          % Held by Institut. > 30?  2.8840
52-Wk Change vs. S&P 500: -0.2835          Short Ratio > 5?           0.4760
Price/Book Value < 3?      0.8999          Short % of Float > 20?     0.1005
Return on Assets > 17%?    0.5629          Average Volume > 100,000?  3.0000

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  2.0873          Positive Free Cash Flow?   3.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  2.2977
                                           Cash Flow / Assets > 10%?  2.5251

INGR   Ingredion Incorporated              Overall Zenith Index:      1.2945


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Financial Statements

INGREDION INC  (INGR)                       INCOME STATEMENT

Fiscal year ends in December.                        2012-12         2013-12         2014-12         2015-12         2016-12             TTM           

Revenue                                        6,867,999,744   6,653,000,192   5,667,999,744   5,958,000,128   6,022,000,128   6,117,000,192
Cost of revenue                                5,630,000,128   5,521,999,872   4,552,999,936   4,716,000,256   4,620,000,256   4,684,000,256
Gross profit                                   1,238,000,000   1,131,000,064   1,115,000,064   1,242,000,000   1,402,000,000   1,432,999,936


Operating expenses
Sales, General and administrative                556,000,000     534,000,000     525,000,000     562,000,000     579,000,000     603,000,000
Restructuring, merger and acquisition             36,000,000               0               0               0      19,000,000      22,000,000
Other operating expenses                         -22,000,000     -16,000,000       9,000,000      20,000,000      -4,000,000      -8,000,000
Total operating expenses                         570,000,000     518,000,000     534,000,000     582,000,000     594,000,000     617,000,000

Operating income                                 668,000,000     613,000,000     581,000,000     660,000,000     808,000,000     816,000,000
Interest Expense                                  77,000,000      74,000,000      73,000,000      69,000,000      73,000,000               0
Other income (expense)                            10,000,000       8,000,000      12,000,000       8,000,000       7,000,000     -74,000,000
Income before taxes                              601,000,000     547,000,000     520,000,000     599,000,000     742,000,000     742,000,000
Provision for income taxes                       167,000,000     144,000,000     157,000,000     187,000,000     246,000,000     240,000,000
Net income from continuing operations            434,000,000     403,000,000     363,000,000     412,000,000     496,000,000     502,000,000
Other                                             -6,000,000      -7,000,000      -8,000,000     -10,000,000     -11,000,000     -11,000,000
Net income                                       428,000,000     396,000,000     355,000,000     402,000,000     485,000,000     491,000,000
Net income available to common shareholders      428,000,000     396,000,000     355,000,000     402,000,000     485,000,000     491,000,000

Earnings per share
Basic                                                   5.59            5.14            4.82            5.62            6.70            6.79 
Diluted                                                 5.47            5.05            4.74            5.51            6.55            6.65 

Weighted average shares outstanding
Basic                                             76,500,000      77,000,000      73,600,000      71,600,000      72,300,000      72,250,000
Diluted                                           78,200,000      78,300,000      74,900,000      73,000,000      74,100,000      73,900,000

____________________________________________________________________________________________________________________________________________


INGREDION INC  (INGR)                       BALANCE SHEET

Fiscal year ends in December.                        2012-12         2013-12         2014-12         2015-12         2016-12             

Assets

Current assets

Cash

Short-term investments                            19,000,000               0      34,000,000       6,000,000       4,000,000
Total cash                                       628,000,000     574,000,000     614,000,000     440,000,000     516,000,000

Receivables                                      814,000,000     832,000,000     651,000,000     775,000,000     923,000,000
Inventories                                      834,000,000     723,000,000     699,000,000     715,000,000     789,000,000
Deferred income taxes                             65,000,000      68,000,000      48,000,000               0               0
Prepaid expenses                                  19,000,000      17,000,000      21,000,000      20,000,000      24,000,000
Other current assets                                       0               0     111,000,000               0               0
Total current assets                           2,360,000,000   2,214,000,128   2,144,000,000   1,950,000,000   2,252,000,000

Non-current assets

Property, plant and equipment
Gross property, plant and equipment            4,908,000,256   4,931,999,744   4,886,000,128   4,631,000,064   4,942,000,128
Accumulated Depreciation                      -2,715,000,064  -2,776,000,000  -2,812,999,936  -2,641,999,872  -2,825,999,872
Net property, plant and equipment              2,192,999,936   2,156,000,000   2,072,999,936   1,988,999,936   2,116,000,000

Equity and other investments                      10,000,000      11,000,000       5,000,000               0               0
Goodwill                                         557,000,000     535,000,000     478,000,000     601,000,000     784,000,000
Intangible assets                                329,000,000     311,000,000     290,000,000     410,000,000     502,000,000
Deferred income taxes                             21,000,000      15,000,000       4,000,000       7,000,000       7,000,000
Other long-term assets                           122,000,000     118,000,000      97,000,000     117,000,000     121,000,000
Total non-current assets                       3,232,000,000   3,145,999,872   2,947,000,064   3,124,000,000   3,529,999,872

Total assets                                   5,592,000,000   5,360,000,000   5,090,999,808   5,073,999,872   5,782,000,128 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Short-term debt                                   76,000,000      93,000,000      23,000,000      19,000,000     106,000,000
Accounts payable                                 590,000,000     458,000,000     430,000,000     423,000,000     440,000,000
Deferred income taxes                              2,000,000               0               0               0               0
Taxes payable                                     58,000,000      46,000,000      72,000,000      80,000,000     148,000,000
Accrued liabilities                              187,000,000     191,000,000     165,000,000     187,000,000     248,000,000
Other current liabilities                         20,000,000      32,000,000      31,000,000      33,000,000      36,000,000
Total current liabilities                        933,000,000     820,000,000     721,000,000     742,000,000     978,000,000

Non-current liabilities
Long-term debt                                 1,724,000,000   1,716,999,936   1,804,000,000   1,819,000,064   1,850,000,000
Deferred taxes liabilities                       160,000,000     207,000,000     180,000,000     139,000,000     171,000,000
Pensions and other benefits                                0     133,000,000     126,000,000     142,000,000     139,000,000
Minority interest                                 22,000,000      25,000,000      30,000,000      36,000,000      30,000,000
Other long-term liabilities                      316,000,000      54,000,000      53,000,000      52,000,000      49,000,000
Total non-current liabilities                  2,222,000,128   2,136,000,000   2,192,999,936   2,188,000,000   2,239,000,064

Total liabilities                              3,155,000,064   2,956,000,000   2,913,999,872   2,929,999,872   3,216,999,936 

Stockholders' equity

Common stock                                       1,000,000       1,000,000       1,000,000       1,000,000       1,000,000
Additional paid-in capital                     1,148,000,000   1,166,000,000   1,164,000,000   1,160,000,000   1,148,999,936
Retained earnings                              1,768,999,936   2,044,999,936   2,275,000,064   2,552,000,000   2,899,000,064
Treasury stock                                    -6,000,000    -225,000,000    -481,000,000    -467,000,000    -413,000,000
Accumulated other comprehensive income          -475,000,000    -583,000,000    -782,000,000  -1,102,000,000  -1,071,000,000
Total stockholders' equity                     2,436,999,936   2,404,000,000   2,176,999,936   2,144,000,000   2,564,999,936
Total liabilities and stockholders' equity     5,592,000,000   5,360,000,000   5,090,999,808   5,073,999,872   5,782,000,128

____________________________________________________________________________________________________________________________________________


INGREDION INC  (INGR)                       Statement of CASH FLOW

Fiscal year ends in December. USD.                   2012-12         2013-12         2014-12         2015-12         2016-12             TTM           

Cash Flows From Operating Activities
Net income                                       434,000,000     403,000,000     363,000,000     412,000,000     496,000,000     502,000,000
Depreciation & amortization                      211,000,000     194,000,000     195,000,000     194,000,000     196,000,000     203,000,000
Investment/asset impairment charges               24,000,000               0               0               0               0               0
Deferred income taxes                             -3,000,000      30,000,000     -11,000,000      -6,000,000      -5,000,000               0
Accounts receivable                               22,000,000     -69,000,000     -15,000,000     -29,000,000    -131,000,000     -67,000,000
Inventory                                        -69,000,000      76,000,000      -6,000,000       9,000,000     -19,000,000     -19,000,000
Other working capital                             80,000,000     -64,000,000     105,000,000      -4,000,000     142,000,000     108,000,000
Other non-cash items                              33,000,000      49,000,000     100,000,000     110,000,000      92,000,000      80,000,000
Net cash provided by operating activities        732,000,000     619,000,000     731,000,000     686,000,000     771,000,000     807,000,000

Cash Flows From Investing Activities
Investments in property, plant, and equipmen    -313,000,000    -298,000,000    -276,000,000    -280,000,000    -284,000,000    -303,000,000
Property, plant, and equipment reductions          9,000,000       3,000,000       5,000,000      38,000,000       3,000,000               0
Acquisitions, net                                          0               0               0    -434,000,000    -407,000,000               0
Purchases of investments                         -18,000,000               0               0               0      -2,000,000       4,000,000
Sales/Maturities of investments                            0               0      11,000,000               0               0               0
Other investing activities                                 0      21,000,000     -34,000,000      27,000,000       1,000,000    -415,000,000
Net cash used for investing activities          -322,000,000    -274,000,000    -294,000,000    -649,000,000    -689,000,000    -714,000,000

Cash Flows From Financing Activities
Debt issued                                      312,000,000      21,000,000     231,000,000   1,388,000,000   1,000,000,000   1,412,000,000
Debt repayment                                  -462,000,000     -53,000,000    -213,000,000  -1,366,000,000    -874,000,000  -1,270,000,000
Common stock issued                               34,000,000      14,000,000      20,000,000      21,000,000      29,000,000               0
Common stock repurchased                         -18,000,000    -228,000,000    -304,000,000     -41,000,000      -8,000,000               0
Dividend paid                                    -69,000,000    -112,000,000    -128,000,000    -126,000,000    -141,000,000    -155,000,000
Other financing activities                         6,000,000       5,000,000       6,000,000       8,000,000      -6,000,000    -121,000,000
Net cash provided by (used for) financing       -197,000,000    -353,000,000    -388,000,000    -116,000,000               0    -134,000,000

Effect of exchange rate changes                   -5,000,000     -27,000,000     -43,000,000     -67,000,000      -4,000,000      -5,000,000
Net change in cash                               208,000,000     -35,000,000       6,000,000    -146,000,000      78,000,000     -46,000,000
Cash at beginning of period                      401,000,000     609,000,000     574,000,000     580,000,000     434,000,000     487,000,000
Cash at end of period                            609,000,000     574,000,000     580,000,000     434,000,000     512,000,000     441,000,000

Free Cash Flow
Operating cash flow                              732,000,000     619,000,000     731,000,000     686,000,000     771,000,000     807,000,000
Capital expenditure                             -313,000,000    -298,000,000    -276,000,000    -280,000,000    -284,000,000    -303,000,000
Free cash flow                                   419,000,000     321,000,000     455,000,000     406,000,000     487,000,000     504,000,000
____________________________________________________________________________________________________________________________________________





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Average to Current P/E Ratios
              (INGR)     Ingredion Inc.

                               2012    2013    2014    2015    2016

          Annual Earnings:     5.47    5.05    4.74    5.51    6.54
Average Price During Year:    60.44   66.90   76.29   85.31  116.97

                P/E Ratio:    11.05   13.25   16.09   15.48   17.88

 Average 5-Year P/E Ratio  =  14.75
             Current Price =  124.71

Previous 5 Quarter Earnings:   1.58    1.93    1.26    1.68    1.78

           Current Annualized (Last Four Quarters) Earnings =  4.72
                                                           ________
                                 Average PE / Current PE =     0.56
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Financial Ratios

. . . . . . . . . . . . Lowest to Highest, Compared to Industry



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Market Grader

900
901 902 903 904 905 906 907 908 909 910



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Intrinsic Value (DCF)

Intrinsic Value by Discounted Cash Flow Method:

Intrinsic Value



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Book Value

Tangible Book Value:

Book Value



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Projected Earnings

Earnings Estimates
Earnings Estimates



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Research Reports

Click Here for Research Reports



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Analysts' Opinions

Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 2



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Insider Activity

Insiders Chart Insider Trades
Insider Trades
Executive Compensation Executive Compensation



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Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


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Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



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Moving Average Chart



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Right Time Study



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for INGREDION CORP.:
Symbol? INGR
Total Months Available:  63
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
 137.62  113.92    128.95  113.07    125.10  113.42

RANGE   = 137.62  TO  113.07            Close = 124.55
CHANNEL = 125.10  TO  113.92           Degree =   5
Volatility =   8.98%                    Index =   4
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

4 out of 8 favorable, (neutral opinion.)

Val Idea Val Idea


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Stock Consultant

Stock Consultant Stock Consultant



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Point & Figure Chart

P & F Chart


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Wall Street Analyzer



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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

2 out of 3 of the ultimate systems favor an upmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison - 1
Industry - 1
Bond Issue - 1
Zenith Index + 1
Non-GAAP vs. GAAP Earnings - 1
Cash Flow - 1
Average to Current P/E - 1
Ratios + 1
Market Grader - 1
Intrinsic Value DCF - 1
Tangible Book Value - 1
Projected Earnings + 1
Research Reports + 1
Analysts + 1
Executive Perquisites - 1
Insider Activity - 1
Institutional Activity + 1
Management Reporting + 1
Short Interest + 1
Sentiment + 1
Standard & Poor's - 1
Moving Average + 1
Right Time Study + 1
MACD Histogram Divergence + 1
Val Idea 0
Stock Consultant - 1
Point & Figure + 1
Wall Street Analyzer + 1
Marketspace Chart + 1
Time Series Chart - 1
Neural Network - 1
Stock Options - 1
Ultimate Trading Systems + 1
Total + 1
Place 240 shares of Ingredion Corporation (INGR) on the Active List.