Skip to Content

Australian Investment Blog

ASX:ING 11/01/2022

Ingham’s (ING) shares slide as supply chain issues bite

ING -5.95%: The Chicken producer was out today with an update on the impacts of Omicron on their operations and while it’s premature to draw any conclusions on the overall financial hit, we suspect there are many businesses across the country experiencing similar issues. In terms of ING, and this is why finding Chicken in the supermarket will be tough for a while, they say isolation rules have disrupted production and distribution capability, and impacted sales. While their sites are operational they have significantly lower levels of staff availability and that prompted them to change their production schedules. The stock was down sharply as a result although the market collectively remains bullish with 6 buys, 5 holds and 0 sells with a consensus price target of $4.16, about 25% above current levels.

MM likes ING into current weakness as a high yield defensive stock
Add To Hit List
image description
Inghams (ING)
image description

Relevant suggested news and content from the site

Back to top