MGP Ingredients - MGPI Stock Forecast, Price & News

MGP Ingredients, Inc., together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients. It operates through three segments: Distillery Products; Branded Spirits; and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food-grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products. This segment also provides fuel-grade alcohol for blending with gasoline; distillers feed and related co-products, such as distillers feed and corn oil; and warehouse services, including barrel put away, storage, and retrieval services, as well as blending services. The Branded Spirits segment provides ultra-premium, premium, mid, and value branded distilled spirits. The Ingredient Solutions segment provides specialty wheat starches for food applications under the Fibersym, Resistant Starch, and FiberRite RW Resistant Starch names; specialty wheat proteins for food applications under the Arise and Proterra names; gluten-free textured pea proteins; commodity wheat starch for food and non-food applications; and commodity wheat proteins. The company sells its products directly or through distributors to manufacturers and processors of finished packaged goods or to bakeries primarily in the United States, the United Kingdom, Japan, Thailand, Mexico, and Canada. MGP Ingredients, Inc. was founded in 1941 and is headquartered in Atchison, Kansas.

MGP Ingredients Price Performance

NASDAQ:MGPI opened at $109.03 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.53 and a quick ratio of 1.61. The stock's fifty day moving average price is $99.16 and its 200 day moving average price is $90.64. MGP Ingredients has a 1 year low of $60.43 and a 1 year high of $109.28. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 20.49 and a beta of 1.01.

MGP Ingredients (NASDAQ:MGPI - Get Rating) last released its earnings results on Thursday, August 4th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.27. MGP Ingredients had a return on equity of 16.09% and a net margin of 16.12%. The firm had revenue of $195.00 million for the quarter, compared to the consensus estimate of $173.06 million. During the same period in the prior year, the firm earned $1.27 EPS. The firm's revenue was up 11.5% on a year-over-year basis. As a group, equities research analysts forecast that MGP Ingredients will post 4.74 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 19th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Thursday, August 18th. MGP Ingredients's payout ratio is 9.02%.

Analysts Set New Price Targets

Separately, Roth Capital started coverage on MGP Ingredients in a report on Thursday, June 30th. They set a "buy" rating and a $115.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $103.50.

Insiders Place Their Bets

In other MGP Ingredients news, VP David E. Dykstra sold 1,571 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $95.48, for a total transaction of $149,999.08. Following the sale, the vice president now directly owns 13,751 shares of the company's stock, valued at approximately $1,312,945.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other MGP Ingredients news, Director Karen Seaberg sold 1,831 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $95.52, for a total transaction of $174,897.12. Following the sale, the director now directly owns 62,143 shares of the company's stock, valued at approximately $5,935,899.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David E. Dykstra sold 1,571 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $95.48, for a total value of $149,999.08. Following the sale, the vice president now directly owns 13,751 shares in the company, valued at $1,312,945.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,202 shares of company stock valued at $1,120,098. Company insiders own 36.70% of the company's stock.