MGP Ingredients (NASDAQ:MGPI) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Friday.
MGPI has been the topic of a number of other reports. Zacks Investment Research downgraded MGP Ingredients from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Stifel Nicolaus cut their price target on MGP Ingredients from $76.00 to $73.00 and set a “hold” rating on the stock in a report on Tuesday, March 6th. Sidoti upgraded MGP Ingredients from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. Finally, Craig Hallum reiterated a “buy” rating and issued a $105.00 price target (up from $90.00) on shares of MGP Ingredients in a report on Monday, January 29th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. MGP Ingredients has an average rating of “Buy” and a consensus target price of $87.33.
NASDAQ MGPI traded down $0.63 on Friday, reaching $89.79. 33,612 shares of the stock traded hands, compared to its average volume of 195,803. The company has a quick ratio of 1.00, a current ratio of 3.24 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1,547.34, a PE ratio of 47.98, a price-to-earnings-growth ratio of 2.86 and a beta of 1.06. MGP Ingredients has a 12 month low of $47.64 and a 12 month high of $93.49.
MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, March 1st. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.06. The business had revenue of $88.20 million during the quarter, compared to analyst estimates of $85.44 million. MGP Ingredients had a return on equity of 18.76% and a net margin of 11.71%. MGP Ingredients’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. research analysts expect that MGP Ingredients will post 2.14 earnings per share for the current year.
In other news, Director Karen Seaberg sold 7,270 shares of MGP Ingredients stock in a transaction on Monday, March 5th. The stock was sold at an average price of $82.14, for a total value of $597,157.80. Following the transaction, the director now directly owns 10,934 shares in the company, valued at approximately $898,118.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen J. Glaser sold 1,200 shares of MGP Ingredients stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $81.56, for a total value of $97,872.00. Following the completion of the transaction, the vice president now owns 16,795 shares in the company, valued at $1,369,800.20. The disclosure for this sale can be found here. Insiders sold a total of 33,770 shares of company stock worth $2,752,401 over the last quarter. Company insiders own 22.19% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Earnest Partners LLC purchased a new position in MGP Ingredients during the 4th quarter worth $115,000. SG Americas Securities LLC purchased a new position in MGP Ingredients during the 3rd quarter worth $128,000. Advisor Group Inc. grew its stake in MGP Ingredients by 636.1% during the 4th quarter. Advisor Group Inc. now owns 2,488 shares of the company’s stock worth $191,000 after buying an additional 2,150 shares during the last quarter. Millennium Management LLC purchased a new position in MGP Ingredients during the 4th quarter worth $219,000. Finally, Gamco Investors INC. ET AL purchased a new position in MGP Ingredients during the 4th quarter worth $228,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.
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MGP Ingredients Company Profile
MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.
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