MGP Ingredients, Inc. (NASDAQ:MGPI) Given Average Recommendation of "Moderate Buy" by Analysts

MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $44.60.

MGPI has been the topic of a number of recent research reports. Weiss Ratings reissued a "sell (d)" rating on shares of MGP Ingredients in a report on Wednesday, October 8th. Wells Fargo & Company dropped their price objective on MGP Ingredients from $38.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th.

Institutional Trading of MGP Ingredients

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in MGP Ingredients by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,446 shares of the company's stock valued at $248,000 after buying an additional 390 shares during the last quarter. Aigen Investment Management LP raised its stake in MGP Ingredients by 6.8% during the first quarter. Aigen Investment Management LP now owns 6,900 shares of the company's stock valued at $203,000 after buying an additional 440 shares during the last quarter. Osaic Holdings Inc. raised its stake in MGP Ingredients by 130.3% during the second quarter. Osaic Holdings Inc. now owns 935 shares of the company's stock valued at $28,000 after buying an additional 529 shares during the last quarter. Rhumbline Advisers raised its stake in MGP Ingredients by 1.3% during the second quarter. Rhumbline Advisers now owns 52,446 shares of the company's stock valued at $1,572,000 after buying an additional 666 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in MGP Ingredients by 4.8% during the second quarter. Prudential Financial Inc. now owns 14,608 shares of the company's stock valued at $438,000 after buying an additional 666 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company's stock.

MGP Ingredients Stock Up 1.3%

Shares of NASDAQ MGPI opened at $24.55 on Monday. MGP Ingredients has a one year low of $23.28 and a one year high of $68.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.91 and a quick ratio of 0.79. The business's fifty day moving average price is $26.99 and its 200-day moving average price is $28.95. The stock has a market capitalization of $522.67 million, a PE ratio of -79.19 and a beta of 0.37.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.33. MGP Ingredients had a positive return on equity of 10.66% and a negative net margin of 1.08%.The firm had revenue of $145.49 million for the quarter, compared to analysts' expectations of $138.70 million. During the same quarter in the prior year, the firm earned $1.71 EPS. The business's revenue for the quarter was down 23.7% compared to the same quarter last year. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. On average, equities research analysts anticipate that MGP Ingredients will post 5.56 EPS for the current year.

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. MGP Ingredients's dividend payout ratio is -154.84%.

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.

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