MGP Ingredients (NASDAQ:MGPI) Raised to “Hold” at StockNews.com

MGP Ingredients (NASDAQ:MGPI) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other analysts also recently weighed in on the company. Lake Street Capital downgraded MGP Ingredients from a “buy” rating to a “hold” rating and decreased their price objective for the company from $135.00 to $75.00 in a report on Friday, October 18th. Roth Mkm decreased their price target on MGP Ingredients from $92.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Truist Financial lowered their price objective on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday. Finally, Loop Capital set a $75.00 target price on MGP Ingredients in a report on Friday, October 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.60.

MGP Ingredients Stock Performance

Shares of MGPI stock opened at $45.52 on Friday. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.78 and a beta of 0.66. The company has a current ratio of 6.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $77.75 and its 200-day moving average price is $78.41. MGP Ingredients has a 12 month low of $45.48 and a 12 month high of $102.42.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, October 31st. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.27 by $0.02. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The business had revenue of $161.50 million for the quarter, compared to the consensus estimate of $161.55 million. During the same period last year, the company earned $1.34 EPS. The firm’s revenue was down 23.7% compared to the same quarter last year. Equities research analysts forecast that MGP Ingredients will post 5.58 EPS for the current year.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 12,092 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $90.65, for a total value of $1,096,139.80. Following the transaction, the director now directly owns 54,542 shares of the company’s stock, valued at approximately $4,944,232.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 36.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MGP Ingredients

A number of large investors have recently bought and sold shares of the stock. CWM LLC boosted its position in shares of MGP Ingredients by 477.9% during the 2nd quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 325 shares in the last quarter. LRI Investments LLC bought a new position in MGP Ingredients in the first quarter worth approximately $43,000. Innealta Capital LLC acquired a new stake in MGP Ingredients in the second quarter valued at approximately $42,000. Farther Finance Advisors LLC increased its holdings in shares of MGP Ingredients by 45.3% during the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock valued at $50,000 after acquiring an additional 186 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of MGP Ingredients by 23.3% during the first quarter. Covestor Ltd now owns 795 shares of the company’s stock worth $68,000 after purchasing an additional 150 shares during the period. 77.11% of the stock is currently owned by institutional investors and hedge funds.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.