MGP Ingredients (MGPI) Upgraded to Buy at BidaskClub

MGP Ingredients (NASDAQ:MGPI) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other equities research analysts also recently commented on MGPI. Zacks Investment Research downgraded shares of MGP Ingredients from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Stifel Nicolaus lowered their price objective on shares of MGP Ingredients from $76.00 to $73.00 and set a “hold” rating for the company in a research note on Tuesday, March 6th. Craig Hallum reiterated a “buy” rating and set a $105.00 price objective (up from $90.00) on shares of MGP Ingredients in a research note on Monday, January 29th. Finally, Sidoti upgraded shares of MGP Ingredients from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $87.33.

NASDAQ:MGPI opened at $87.33 on Tuesday. MGP Ingredients has a 12 month low of $47.64 and a 12 month high of $98.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.31 and a quick ratio of 1.24. The firm has a market cap of $1.46 billion, a PE ratio of 46.70, a P/E/G ratio of 2.72 and a beta of 1.05.



MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Wednesday, May 2nd. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). MGP Ingredients had a return on equity of 18.46% and a net margin of 11.83%. The company had revenue of $88.00 million for the quarter, compared to analyst estimates of $92.80 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. equities analysts predict that MGP Ingredients will post 2.13 EPS for the current year.

In related news, Director Daryl Schaller sold 388 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $79.00, for a total transaction of $30,652.00. Following the completion of the transaction, the director now owns 2,851 shares of the company’s stock, valued at $225,229. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Augustus C. Griffin bought 1,000 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, March 6th. The shares were acquired at an average cost of $76.33 per share, with a total value of $76,330.00. Following the acquisition, the chief executive officer now owns 108,084 shares of the company’s stock, valued at $8,250,051.72. The disclosure for this purchase can be found here. In the last three months, insiders have sold 47,595 shares of company stock valued at $3,951,162. 22.19% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System raised its holdings in shares of MGP Ingredients by 10.8% during the fourth quarter. California Public Employees Retirement System now owns 44,061 shares of the company’s stock worth $3,387,000 after purchasing an additional 4,300 shares during the last quarter. BlackRock Inc. raised its holdings in shares of MGP Ingredients by 1.2% during the fourth quarter. BlackRock Inc. now owns 844,062 shares of the company’s stock worth $64,891,000 after purchasing an additional 10,092 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of MGP Ingredients by 6.6% during the fourth quarter. Wells Fargo & Company MN now owns 36,644 shares of the company’s stock worth $2,817,000 after purchasing an additional 2,268 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of MGP Ingredients by 636.1% during the fourth quarter. Advisor Group Inc. now owns 2,488 shares of the company’s stock worth $191,000 after purchasing an additional 2,150 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of MGP Ingredients during the fourth quarter worth $272,000. 99.28% of the stock is owned by hedge funds and other institutional investors.

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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