Recent Analysts’ Ratings Changes for MGP Ingredients (MGPI)

Posted by William Tyler on Nov 19th, 2024

Several brokerages have updated their recommendations and price targets on shares of MGP Ingredients (NASDAQ: MGPI) in the last few weeks:

11/6/2024 – MGP Ingredients was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating. They now have a $50.00 price target on the stock, down previously from $66.00.
11/4/2024 – MGP Ingredients had its price target lowered by analysts at Roth Mkm from $69.00 to $65.00. They now have a “buy” rating on the stock.
11/1/2024 – MGP Ingredients was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
11/1/2024 – MGP Ingredients had its price target lowered by analysts at Truist Financial Co. from $85.00 to $75.00. They now have a “buy” rating on the stock.
10/22/2024 – MGP Ingredients had its price target lowered by analysts at Truist Financial Co. from $95.00 to $85.00. They now have a “buy” rating on the stock.
10/21/2024 – MGP Ingredients was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
10/18/2024 – MGP Ingredients was given a new $75.00 price target on by analysts at Loop Capital.
10/18/2024 – MGP Ingredients was downgraded by analysts at Lake Street Capital from a “buy” rating to a “hold” rating. They now have a $75.00 price target on the stock, down previously from $135.00.
10/18/2024 – MGP Ingredients had its price target lowered by analysts at Roth Mkm from $92.00 to $88.00. They now have a “buy” rating on the stock.
10/16/2024 – MGP Ingredients had its price target lowered by analysts at Truist Financial Co. from $125.00 to $95.00. They now have a “buy” rating on the stock.

MGP Ingredients Stock Performance

NASDAQ MGPI opened at $48.80 on Tuesday. The business has a 50 day moving average price of $69.07 and a 200 day moving average price of $76.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The company has a market capitalization of $1.07 billion, a P/E ratio of 10.15, a PEG ratio of 0.81 and a beta of 0.66. MGP Ingredients, Inc. has a 1-year low of $45.44 and a 1-year high of $102.42.

MGP Ingredients (NASDAQ:MGPI – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.27 by $0.02. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The business had revenue of $161.50 million for the quarter, compared to analyst estimates of $161.55 million. During the same period in the prior year, the business earned $1.34 earnings per share. The company’s quarterly revenue was down 23.7% on a year-over-year basis. Sell-side analysts expect that MGP Ingredients, Inc. will post 5.57 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. MGP Ingredients’s dividend payout ratio (DPR) is currently 9.98%.

Insiders Place Their Bets

In other news, Director Karen Seaberg sold 1,109 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $90.14, for a total transaction of $99,965.26. Following the transaction, the director now directly owns 134,969 shares in the company, valued at $12,166,105.66. This represents a 0.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 36.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MGP Ingredients

Large investors have recently modified their holdings of the company. CWM LLC increased its position in shares of MGP Ingredients by 477.9% in the second quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after acquiring an additional 325 shares in the last quarter. Isthmus Partners LLC boosted its position in shares of MGP Ingredients by 2.1% in the second quarter. Isthmus Partners LLC now owns 41,427 shares of the company’s stock worth $31,000 after buying an additional 860 shares during the period. Innealta Capital LLC purchased a new stake in shares of MGP Ingredients during the 2nd quarter valued at about $42,000. LRI Investments LLC acquired a new position in MGP Ingredients during the 1st quarter worth approximately $43,000. Finally, Farther Finance Advisors LLC boosted its holdings in MGP Ingredients by 45.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock worth $50,000 after acquiring an additional 186 shares during the period. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

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.