Equities researchers at Stifel Nicolaus started coverage on shares of MGP Ingredients (NASDAQ:MGPI) in a report issued on Tuesday, The Fly reports. The brokerage set a “hold” rating on the stock.

A number of other research firms have also recently weighed in on MGPI. Zacks Investment Research raised MGP Ingredients from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Tuesday, November 7th. SunTrust Banks reaffirmed a “buy” rating on shares of MGP Ingredients in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $71.33.

MGP Ingredients (NASDAQ MGPI) traded down $1.03 on Tuesday, hitting $74.91. The stock had a trading volume of 90,175 shares, compared to its average volume of 137,291. The company has a market capitalization of $1,252.85, a PE ratio of 43.30, a PEG ratio of 2.28 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 4.45. MGP Ingredients has a 52 week low of $41.16 and a 52 week high of $78.02.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.45. The company had revenue of $86.30 million for the quarter, compared to analysts’ expectations of $83.57 million. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. equities analysts forecast that MGP Ingredients will post 2.2 earnings per share for the current fiscal year.

In related news, Director Daryl Schaller sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $72.58, for a total transaction of $1,451,600.00. Following the sale, the director now owns 2,851 shares of the company’s stock, valued at $206,925.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen Seaberg sold 2,492 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $73.05, for a total value of $182,040.60. Following the sale, the director now directly owns 10,591 shares in the company, valued at approximately $773,672.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,797 shares of company stock worth $1,973,320. Corporate insiders own 23.50% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Blair William & Co. IL raised its holdings in MGP Ingredients by 4.8% during the second quarter. Blair William & Co. IL now owns 23,951 shares of the company’s stock worth $1,226,000 after purchasing an additional 1,100 shares in the last quarter. Alliancebernstein L.P. raised its holdings in MGP Ingredients by 31.0% during the second quarter. Alliancebernstein L.P. now owns 14,800 shares of the company’s stock worth $757,000 after purchasing an additional 3,500 shares in the last quarter. Jennison Associates LLC bought a new stake in MGP Ingredients during the third quarter worth approximately $10,880,000. Raymond James Financial Services Advisors Inc. raised its holdings in MGP Ingredients by 2.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,486,387 shares of the company’s stock worth $229,568,000 after purchasing an additional 99,372 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in MGP Ingredients by 37.0% during the second quarter. Thrivent Financial For Lutherans now owns 556,750 shares of the company’s stock worth $28,489,000 after purchasing an additional 150,510 shares in the last quarter.

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MGP Ingredients Company Profile

MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.

The Fly

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