Analysts Set MGP Ingredients, Inc. (NASDAQ:MGPI) Target Price at $27.75

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.75.

MGPI has been the topic of a number of recent analyst reports. Roth Mkm dropped their price objective on MGP Ingredients from $41.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen lowered MGP Ingredients from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Wells Fargo & Company dropped their price objective on MGP Ingredients from $29.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. TD Cowen dropped their price objective on MGP Ingredients from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday, April 30th. Finally, Benchmark began coverage on MGP Ingredients in a research note on Thursday, January 22nd. They set a “buy” rating and a $35.00 price target on the stock.

Hedge Funds Weigh In On MGP Ingredients

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in MGP Ingredients by 73.8% during the first quarter. Renaissance Technologies LLC now owns 35,986 shares of the company’s stock valued at $662,000 after acquiring an additional 15,286 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in MGP Ingredients during the first quarter valued at about $2,725,000. Dimensional Fund Advisors LP increased its stake in MGP Ingredients by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 760,128 shares of the company’s stock valued at $13,979,000 after acquiring an additional 78,849 shares during the period. Allspring Global Investments Holdings LLC bought a new position in MGP Ingredients during the first quarter valued at about $3,064,000. Finally, Barnett & Company Inc. bought a new position in MGP Ingredients during the first quarter valued at about $281,000. 77.11% of the stock is currently owned by institutional investors.

MGP Ingredients Trading Up 0.7%

MGP Ingredients stock opened at $18.23 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.56 and a current ratio of 2.74. The business’s 50-day simple moving average is $18.79 and its 200-day simple moving average is $22.43. The firm has a market capitalization of $389.58 million, a PE ratio of -1.64 and a beta of 0.49. MGP Ingredients has a 52 week low of $16.45 and a 52 week high of $33.38.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. The business had revenue of $106.43 million for the quarter, compared to analyst estimates of $105.32 million. MGP Ingredients had a positive return on equity of 7.48% and a negative net margin of 45.70%.The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. Equities research analysts forecast that MGP Ingredients will post 1.6 earnings per share for the current year.

MGP Ingredients Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, May 15th. MGP Ingredients’s payout ratio is currently -4.31%.

MGP Ingredients Company Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.