MGP Ingredients (NASDAQ:MGPI) Price Target Cut to $95.00 by Analysts at Roth Mkm

MGP Ingredients (NASDAQ:MGPI) had its target price decreased by equities researchers at Roth Mkm from $100.00 to $95.00 in a research note issued 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 17.95% from the stock’s previous close.

A number of other brokerages also recently issued reports on MGPI. Wedbush reiterated an “outperform” rating and set a $120.00 price target on shares of MGP Ingredients in a research report on Wednesday, April 10th. StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th.

MGP Ingredients Stock Up 1.7 %

MGP Ingredients stock opened at $80.54 on Thursday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. MGP Ingredients has a 52 week low of $75.78 and a 52 week high of $124.96. The business’s 50-day moving average price is $82.67 and its 200 day moving average price is $89.64. 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 (NASDAQ:MGPI) last posted its earnings results on Thursday, February 22nd. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.38 by $0.26. The firm had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. MGP Ingredients’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. As a group, sell-side analysts anticipate that MGP Ingredients will post 6.18 earnings per share for the current year.

Insider Activity

In other news, VP Erika Lapish bought 500 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the transaction, the vice president now directly owns 550 shares in the company, valued at approximately $42,823. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 28.70% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

Hedge funds and other institutional investors have recently made changes to their positions in the company. ZWJ Investment Counsel Inc. lifted its position in MGP Ingredients by 314.1% during the first quarter. ZWJ Investment Counsel Inc. now owns 276,549 shares of the company’s stock worth $23,819,000 after buying an additional 209,771 shares in the last quarter. Norden Group LLC acquired a new stake in MGP Ingredients during the first quarter worth $261,000. Congress Wealth Management LLC DE increased its stake in MGP Ingredients by 41.9% during the first quarter. Congress Wealth Management LLC DE now owns 50,263 shares of the company’s stock worth $4,329,000 after acquiring an additional 14,843 shares during the last quarter. Diversified Trust Co increased its stake in MGP Ingredients by 60.0% during the first quarter. Diversified Trust Co now owns 11,600 shares of the company’s stock worth $999,000 after acquiring an additional 4,350 shares during the last quarter. Finally, Congress Asset Management Co. MA increased its stake in 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 acquiring an additional 68,950 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Company Profile

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.