MGP Ingredients (NASDAQ:MGPI) Price Target Cut to $95.00

MGP Ingredients (NASDAQ:MGPI) had its target price dropped by equities research analysts at Roth Mkm from $100.00 to $95.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s price objective indicates a potential upside of 21.37% from the company’s current price.

MGPI has been the subject of a number of other reports. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Wedbush reaffirmed an “outperform” rating and set a $120.00 price target on shares of MGP Ingredients in a report on Wednesday, April 10th.

MGP Ingredients Trading Up 0.5 %

Shares of MGPI traded up $0.37 during mid-day trading on Thursday, reaching $78.27. The company’s stock had a trading volume of 39,717 shares, compared to its average volume of 205,655. The stock has a market cap of $1.72 billion, a PE ratio of 16.31, a P/E/G ratio of 1.17 and a beta of 0.76. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33. MGP Ingredients has a 52 week low of $75.78 and a 52 week high of $124.96. The company’s fifty day moving average price is $83.05 and its two-hundred day moving average price is $89.79.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.26. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The company had revenue of $214.90 million during the quarter, compared to analyst estimates of $206.87 million. During the same period in the prior year, the business posted $1.01 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, analysts predict that MGP Ingredients will post 6.18 earnings per share for the current fiscal year.

Insider Buying and Selling at MGP Ingredients

In related news, VP Erika Lapish acquired 500 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the acquisition, the vice president now directly owns 550 shares in the company, valued at approximately $42,823. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 28.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of MGP Ingredients in the 3rd quarter worth $990,000. Exchange Traded Concepts LLC acquired a new position in MGP Ingredients in the 3rd quarter valued at about $524,000. Redwood Investments LLC boosted its stake in shares of MGP Ingredients by 14.2% in the 3rd quarter. Redwood Investments LLC now owns 140,494 shares of the company’s stock valued at $14,819,000 after buying an additional 17,498 shares during the period. Legacy Financial Group LLC purchased a new position in shares of MGP Ingredients in the 3rd quarter valued at about $61,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in MGP Ingredients by 22.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,319 shares of the company’s stock worth $350,000 after purchasing an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

About MGP Ingredients

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.