MGP Ingredients (MGPI) to Release Earnings on Wednesday

MGP Ingredients (NASDAQ:MGPI) is projected to announce its earnings results before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of $1.49 per share and revenue of $177.17 million for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

MGP Ingredients Stock Performance

Shares of MGPI opened at $32.83 on Tuesday. MGP Ingredients has a 52-week low of $31.76 and a 52-week high of $92.52. The company has a market capitalization of $720.72 million, a PE ratio of 6.83 and a beta of 0.62. The company has a 50-day simple moving average of $36.28 and a 200-day simple moving average of $57.17. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MGPI shares. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Roth Mkm decreased their price objective on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Wells Fargo & Company reduced their price target on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. TD Cowen downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and reduced their price target for the company from $66.00 to $50.00 in a report on Wednesday, November 6th. Finally, Truist Financial cut their price objective on shares of MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, MGP Ingredients presently has a consensus rating of “Moderate Buy” and an average target price of $71.29.

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.