News coverage about MGP Ingredients (NASDAQ:MGPI) has been trending somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies positive and negative press coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. MGP Ingredients earned a coverage optimism score of 0.20 on Accern’s scale. Accern also assigned news stories about the company an impact score of 47.2535088915412 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Shares of MGP Ingredients (NASDAQ:MGPI) traded up $0.55 during mid-day trading on Wednesday, reaching $79.53. The company had a trading volume of 17,064 shares, compared to its average volume of 153,845. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.00 and a current ratio of 3.24. The company has a market capitalization of $1,317.16, a P/E ratio of 43.56, a P/E/G ratio of 2.44 and a beta of 1.09. MGP Ingredients has a 12 month low of $47.64 and a 12 month high of $90.34.
MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, March 1st. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.06. The firm had revenue of $88.20 million during the quarter, compared to analysts’ expectations of $85.44 million. MGP Ingredients had a return on equity of 18.76% and a net margin of 11.71%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. sell-side analysts predict that MGP Ingredients will post 2.14 EPS for the current fiscal year.
Several research firms have recently issued reports on MGPI. Zacks Investment Research lowered MGP Ingredients from a “buy” rating to a “sell” rating in a research report on Thursday, February 22nd. Stifel Nicolaus decreased their target price on MGP Ingredients from $76.00 to $73.00 and set a “hold” rating for the company in a research report on Tuesday, March 6th. Sidoti raised shares of MGP Ingredients from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 31st. Craig Hallum reaffirmed a “buy” rating and set a $105.00 price target (up previously from $90.00) on shares of MGP Ingredients in a research report on Monday, January 29th. Finally, BidaskClub downgraded MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $87.33.
In other MGP Ingredients news, Director Daryl Schaller sold 19,612 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $80.08, for a total transaction of $1,570,528.96. Following the sale, the director now owns 2,851 shares in the company, valued at approximately $228,308.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karen Seaberg sold 7,270 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $898,118.76. The disclosure for this sale can be found here. Insiders sold 33,770 shares of company stock worth $2,687,209 in the last 90 days. Company insiders own 23.50% of the company’s stock.
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About MGP Ingredients
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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