MGP Ingredients (NASDAQ:MGPI) PT Lowered to $92.00

MGP Ingredients (NASDAQ:MGPI - Get Free Report) had its price objective dropped by Roth Mkm from $95.00 to $92.00 in a report released on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. Roth Mkm's price target would indicate a potential upside of 14.12% from the company's previous close.

Several other research firms have also recently weighed in on MGPI. Wedbush restated an "outperform" rating and set a $120.00 target price on shares of MGP Ingredients in a research note on Monday. StockNews.com downgraded MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Friday, April 26th.

MGP Ingredients Stock Down 2.0 %

MGP Ingredients stock traded down $1.64 during mid-day trading on Friday, reaching $80.62. The company's stock had a trading volume of 157,200 shares, compared to its average volume of 209,377. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 1.15 and a beta of 0.75. The business's 50 day simple moving average is $81.82 and its 200 day simple moving average is $88.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 4.51. MGP Ingredients has a 12 month low of $75.78 and a 12 month high of $124.96.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The business had revenue of $170.56 million during the quarter, compared to analysts' expectations of $170.31 million. During the same quarter last year, the company posted $1.39 earnings per share. MGP Ingredients's quarterly revenue was down 15.1% on a year-over-year basis. As a group, research analysts anticipate that MGP Ingredients will post 6.18 earnings per share for the current year.

Insider Activity

In related news, VP Erika Lapish acquired 500 shares of MGP Ingredients stock in a transaction dated Monday, February 26th. The stock was bought at an average price 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 approximately $42,823. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 36.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On MGP Ingredients

A number of institutional investors and hedge funds have recently made changes to their positions in MGPI. Global Retirement Partners LLC lifted its holdings in shares of 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. Quest Partners LLC acquired a new position in shares of MGP Ingredients during the fourth quarter valued at about $72,000. Bare Financial Services Inc bought a new stake in shares of MGP Ingredients during the fourth quarter worth about $106,000. Quantbot Technologies LP raised its holdings in shares of 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 acquiring an additional 820 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in MGP Ingredients during the 4th quarter valued at about $190,000. 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.