Wells Fargo & Company Raises MGP Ingredients (NASDAQ:MGPI) Price Target to $22.00

Key Points

• Wells Fargo raised MGP Ingredients’ price target to $22 from $21 and maintained an “overweight” rating, implying 17.4% potential upside from the reported share price.
• MGP reported quarterly EPS of $0.72, beating the $0.49 consensus, but revenue of $124.36 million fell short of estimates and declined 14.5% year over year; EPS also decreased from $0.97 in the prior-year quarter.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $26.75. The company maintained fiscal 2026 EPS guidance of $1.50–$1.80.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) had its price target lifted by Wells Fargo & Company from $21.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 17.40% from the company's current price.

Other equities analysts also recently issued research reports about the company. TD Cowen lowered their price target on MGP Ingredients from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Friday, June 26th. Zacks Research raised MGP Ingredients from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings downgraded MGP Ingredients from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $26.75.

MGP Ingredients Price Performance

Shares of MGPI opened at $18.74 on Thursday. The company has a market cap of $400.45 million, a price-to-earnings ratio of -1.70 and a beta of 0.46. MGP Ingredients has a 1-year low of $15.72 and a 1-year high of $31.75. The company's fifty day simple moving average is $17.16 and its 200 day simple moving average is $19.72. The company has a current ratio of 2.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.41.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.23. MGP Ingredients had a negative net margin of 45.70% and a positive return on equity of 7.48%. The firm had revenue of $124.36 million during the quarter, compared to analysts' expectations of $125.16 million. During the same quarter last year, the company posted $0.97 earnings per share. The company's revenue for the quarter was down 14.5% compared to the same quarter last year. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. On average, research analysts forecast that MGP Ingredients will post 1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MGP Ingredients news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $17.82, for a total value of $534,600.00. Following the transaction, the insider directly owned 500,958 shares of the company's stock, valued at $8,927,071.56. This represents a 5.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 31.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Palouse Capital Management Inc. boosted its position in shares of MGP Ingredients by 187.2% in the second quarter. Palouse Capital Management Inc. now owns 8,805 shares of the company's stock valued at $154,000 after acquiring an additional 5,739 shares during the period. Royal Bank of Canada raised its stake in MGP Ingredients by 78.1% in the 1st quarter. Royal Bank of Canada now owns 90,139 shares of the company's stock worth $1,657,000 after purchasing an additional 39,524 shares in the last quarter. Quantinno Capital Management LP raised its stake in MGP Ingredients by 9.6% in the 1st quarter. Quantinno Capital Management LP now owns 25,340 shares of the company's stock worth $466,000 after purchasing an additional 2,215 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in MGP Ingredients by 73.8% in the 1st quarter. Renaissance Technologies LLC now owns 35,986 shares of the company's stock valued at $662,000 after purchasing an additional 15,286 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in MGP Ingredients in the 1st quarter valued at about $2,725,000. Institutional investors own 77.11% of the company's stock.

MGP Ingredients News Summary

Here are the key news stories impacting MGP Ingredients this week:

• Positive Sentiment: Non-GAAP earnings were $0.72 per share, well above the $0.49 analyst consensus. However, earnings declined from $0.97 per share in the prior-year quarter, limiting the strength of the beat. MGP Q2 Earnings Top Estimates
• Positive Sentiment: MGP Ingredients maintained fiscal 2026 guidance of $1.50-$1.80 in EPS and $480 million-$500 million in revenue. The guidance midpoint is modestly above current consensus estimates of $1.62 EPS and $486 million in revenue, suggesting management still expects to meet or slightly exceed market expectations. MGP Ingredients Q2 2026 Earnings Call Highlights
• Positive Sentiment: The company declared a quarterly dividend of $0.12 per share, payable August 28 to shareholders of record August 14. The dividend represents an annualized yield of approximately 2.5%, providing ongoing income support for investors.
• Neutral Sentiment: Management’s earnings call focused on navigating operating and market challenges while executing against its full-year outlook. Investors will likely watch the call commentary for evidence that margins and demand can improve in the second half. MGP Ingredients Q2 2026 Earnings Call Transcript
• Negative Sentiment: Revenue was $124.36 million, slightly below the $125.16 million consensus and down 14.5% year over year. The decline, combined with lower EPS than last year and a reported negative net margin, highlights continuing pressure on sales and profitability. MGP Ingredients Earnings Report

About MGP Ingredients

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.

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