MGP Ingredients, Inc. (NASDAQ:MGPI) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• MGP Ingredients, Inc. has received a consensus rating of "Moderate Buy" from analysts, with one hold rating and four buy ratings from the brokerages that cover the firm.
• The stock experienced a 2.3% decline recently, trading at $25.19, with a notable 12-month low of $25.12 and a high of $84.76.
• MGP Ingredients reported earnings of $0.97 per share for the last quarter, surpassing estimates by $0.33, although revenue was down 23.7% year-over-year.

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $49.6667.

Separately, Wells Fargo & Company lowered their price target on MGP Ingredients from $38.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MGPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 worth $248,000 after buying an additional 390 shares in the last quarter. Aigen Investment Management LP boosted its holdings in shares of MGP Ingredients by 6.8% during the first quarter. Aigen Investment Management LP now owns 6,900 shares of the company's stock worth $203,000 after purchasing an additional 440 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of MGP Ingredients by 130.3% during the second quarter. Osaic Holdings Inc. now owns 935 shares of the company's stock worth $28,000 after purchasing an additional 529 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of MGP Ingredients by 1.3% during the second quarter. Rhumbline Advisers now owns 52,446 shares of the company's stock worth $1,572,000 after purchasing an additional 666 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of MGP Ingredients by 4.8% during the second quarter. Prudential Financial Inc. now owns 14,608 shares of the company's stock worth $438,000 after purchasing an additional 666 shares during the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

MGP Ingredients Stock Down 2.3%

MGPI stock traded down $0.58 during trading on Thursday, reaching $25.19. 30,019 shares of the company traded hands, compared to its average volume of 322,692. MGP Ingredients has a 12 month low of $25.12 and a 12 month high of $84.76. The business has a 50 day simple moving average of $28.86 and a 200 day simple moving average of $29.65. The company has a market capitalization of $536.37 million, a price-to-earnings ratio of -81.13 and a beta of 0.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 2.91.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.33. The business had revenue of $145.49 million during the quarter, compared to the consensus estimate of $138.70 million. MGP Ingredients had a positive return on equity of 10.66% and a negative net margin of 1.08%.The company's quarterly revenue was down 23.7% on a year-over-year basis. During the same quarter last year, the company earned $1.71 earnings per share. 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 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 15th. MGP Ingredients's dividend payout ratio (DPR) is presently -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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