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

MGP Ingredients (NASDAQ:MGPI) had its target price reduced by investment analysts at Roth Mkm from $100.00 to $95.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price indicates a potential upside of 17.95% from the stock’s previous close.

MGPI has been the topic of several other reports. Wedbush reissued an “outperform” rating and issued a $120.00 target price on shares of MGP Ingredients in a research report on Wednesday, April 10th. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th.

MGP Ingredients Trading Up 1.7 %

Shares of NASDAQ:MGPI opened at $80.54 on Thursday. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.17 and a beta of 0.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 4.51. The stock’s 50-day simple moving average is $82.67 and its two-hundred day simple moving average is $89.64. MGP Ingredients has a 52-week low of $75.78 and a 52-week high of $124.96.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.26. The business had revenue of $214.90 million for the quarter, compared to analysts’ expectations of $206.87 million. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the firm posted $1.01 earnings per share. Analysts expect that MGP Ingredients will post 6.18 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MGPI. Global Retirement Partners LLC lifted its holdings in MGP Ingredients by 464.8% in the 4th quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock worth $37,000 after purchasing an additional 330 shares in the last quarter. Legacy Financial Group LLC purchased a new position in MGP Ingredients in the 3rd quarter worth approximately $61,000. Quest Partners LLC purchased a new position in MGP Ingredients in the 4th quarter worth approximately $72,000. Bare Financial Services Inc purchased a new position in MGP Ingredients in the 4th quarter worth approximately $106,000. Finally, Quantbot Technologies LP lifted its holdings in MGP Ingredients by 99.9% in the 3rd quarter. Quantbot Technologies LP now owns 1,641 shares of the company’s stock worth $173,000 after purchasing an additional 820 shares in the last quarter. 77.11% of the stock is owned by hedge funds and other institutional investors.

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.