MGP Ingredients (NASDAQ:MGPI) Stock Rating Lowered by StockNews.com

MGP Ingredients (NASDAQ:MGPI) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

MGPI has been the subject of several other reports. Roth Mkm decreased their target price on MGP Ingredients from $92.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Lake Street Capital downgraded MGP Ingredients from a “buy” rating to a “hold” rating and decreased their target price for the stock from $135.00 to $75.00 in a research report on Friday, October 18th. Truist Financial decreased their target price on MGP Ingredients from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, Loop Capital set a $75.00 target price on MGP Ingredients in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $88.60.

MGP Ingredients Stock Down 2.0 %

Shares of MGPI opened at $57.50 on Monday. The company has a market cap of $1.27 billion, a PE ratio of 13.28, a P/E/G ratio of 1.16 and a beta of 0.59. The business has a fifty day moving average of $83.10 and a 200 day moving average of $79.78. MGP Ingredients has a 52-week low of $56.50 and a 52-week high of $102.42. The company has a quick ratio of 2.22, a current ratio of 6.44 and a debt-to-equity ratio of 0.34.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.17. The company had revenue of $190.80 million during the quarter, compared to the consensus estimate of $189.06 million. MGP Ingredients had a return on equity of 14.98% and a net margin of 12.18%. MGP Ingredients’s revenue was down 8.7% on a year-over-year basis. During the same period last year, the company earned $1.49 earnings per share. On average, sell-side analysts expect that MGP Ingredients will post 6.25 EPS for the current year.

Insider Activity at MGP Ingredients

In related news, Director Karen Seaberg sold 12,092 shares of MGP Ingredients stock in a transaction dated 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 completion of the sale, the director now directly owns 54,542 shares in the company, valued at $4,944,232.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 36.20% of the stock is currently owned by corporate insiders.

Institutional Trading of MGP Ingredients

Institutional investors and hedge funds have recently made changes to their positions in the company. Scout Investments Inc. grew its stake in MGP Ingredients by 30.5% in the first quarter. Scout Investments Inc. now owns 85,820 shares of the company’s stock valued at $7,325,000 after purchasing an additional 20,073 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in MGP Ingredients by 239.2% in the first quarter. Mutual of America Capital Management LLC now owns 64,557 shares of the company’s stock valued at $5,560,000 after purchasing an additional 45,527 shares during the last quarter. Congress Wealth Management LLC DE grew its stake in MGP Ingredients by 41.9% in the first quarter. Congress Wealth Management LLC DE now owns 50,263 shares of the company’s stock valued at $4,329,000 after purchasing an additional 14,843 shares during the last quarter. Natixis Advisors LLC grew its stake in MGP Ingredients by 107.9% in the second quarter. Natixis Advisors LLC now owns 25,686 shares of the company’s stock valued at $1,911,000 after purchasing an additional 13,332 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. grew its stake in MGP Ingredients by 2.5% in the third quarter. ZWJ Investment Counsel Inc. now owns 293,580 shares of the company’s stock valued at $24,440,000 after purchasing an additional 7,042 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors.

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.