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

MGP Ingredients (NASDAQ:MGPI) had its price target decreased by investment analysts at Roth Mkm from $100.00 to $95.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price target would suggest a potential upside of 21.37% from the stock’s current price.

Other analysts have also recently issued reports about the stock. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Wedbush restated an “outperform” rating and set a $120.00 price objective on shares of MGP Ingredients in a research note on Wednesday, April 10th.

MGP Ingredients Stock Up 0.5 %

Shares of MGP Ingredients stock traded up $0.37 on Thursday, reaching $78.27. The stock had a trading volume of 39,717 shares, compared to its average volume of 205,655. The company has a 50 day moving average price of $83.05 and a 200 day moving average price of $89.79. The company has a quick ratio of 1.47, a current ratio of 4.51 and a debt-to-equity ratio of 0.33. MGP Ingredients has a 1 year low of $75.78 and a 1 year high of $124.96. The stock has a market capitalization of $1.72 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.17 and a beta of 0.76.

MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $206.87 million. During the same quarter in the previous year, the firm earned $1.01 EPS. MGP Ingredients’s revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that MGP Ingredients will post 6.18 EPS for the current year.

Insider Activity at MGP Ingredients

In related news, VP Erika Lapish acquired 500 shares of MGP Ingredients stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the transaction, the vice president now owns 550 shares of the company’s stock, valued at approximately $42,823. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 28.70% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in MGP Ingredients by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 1,126,323 shares of the company’s stock worth $110,965,000 after acquiring an additional 31,839 shares during the period. Stephens Investment Management Group LLC grew its holdings in shares of MGP Ingredients by 1.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 888,850 shares of the company’s stock worth $87,570,000 after buying an additional 13,587 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MGP Ingredients by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 698,346 shares of the company’s stock worth $68,804,000 after buying an additional 17,967 shares in the last quarter. Southernsun Asset Management LLC grew its holdings in shares of MGP Ingredients by 8.9% during the fourth quarter. Southernsun Asset Management LLC now owns 470,661 shares of the company’s stock worth $46,370,000 after buying an additional 38,404 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its holdings in shares of MGP Ingredients by 21.7% during the first quarter. Congress Asset Management Co. MA now owns 387,003 shares of the company’s stock worth $33,333,000 after buying an additional 68,950 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

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.