Analysts expect that MGP Ingredients, Inc. (NASDAQ:MGPI) will announce sales of $85.59 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for MGP Ingredients’ earnings. The highest sales estimate is $86.61 million and the lowest is $84.90 million. MGP Ingredients posted sales of $85.01 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.7%. The business is expected to announce its next quarterly earnings report on Wednesday, March 14th.

On average, analysts expect that MGP Ingredients will report full year sales of $85.59 million for the current financial year, with estimates ranging from $344.20 million to $345.87 million. For the next financial year, analysts anticipate that the firm will post sales of $365.39 million per share, with estimates ranging from $362.30 million to $368.51 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow MGP Ingredients.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.45. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The business had revenue of $86.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. MGP Ingredients’s revenue was up 8.0% compared to the same quarter last year.

Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus assumed coverage on MGP Ingredients in a report on Tuesday, December 5th. They set a “hold” rating and a $73.00 price target for the company. SunTrust Banks reiterated a “buy” rating on shares of MGP Ingredients in a report on Friday, November 3rd. Finally, BidaskClub downgraded MGP Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $71.75.

Shares of MGP Ingredients (NASDAQ MGPI) traded down $1.15 during trading on Monday, reaching $75.41. The company had a trading volume of 95,200 shares, compared to its average volume of 151,956. MGP Ingredients has a 1-year low of $41.16 and a 1-year high of $80.75. The company has a market capitalization of $1,261.21, a P/E ratio of 34.75, a P/E/G ratio of 2.22 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.45 and a quick ratio of 1.54.

In other MGP Ingredients news, Director Karen Seaberg sold 2,492 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 10,591 shares in the company, valued at approximately $773,672.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen J. Glaser sold 5,800 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $74.92, for a total value of $434,536.00. Following the completion of the transaction, the vice president now owns 17,080 shares of the company’s stock, valued at approximately $1,279,633.60. The disclosure for this sale can be found here. Insiders sold a total of 53,597 shares of company stock valued at $3,885,856 in the last 90 days. Corporate insiders own 23.50% of the company’s stock.

A number of large investors have recently made changes to their positions in MGPI. Victory Capital Management Inc. grew its stake in MGP Ingredients by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,165 shares of the company’s stock valued at $111,000 after purchasing an additional 325 shares during the period. SG Americas Securities LLC bought a new position in MGP Ingredients in the 3rd quarter valued at $128,000. ETF Managers Group LLC bought a new position in MGP Ingredients in the 2nd quarter valued at $134,000. Suntrust Banks Inc. bought a new position in MGP Ingredients in the 2nd quarter valued at $208,000. Finally, Principal Financial Group Inc. grew its stake in MGP Ingredients by 15.0% in the 2nd quarter. Principal Financial Group Inc. now owns 6,101 shares of the company’s stock valued at $312,000 after purchasing an additional 798 shares during the period.

COPYRIGHT VIOLATION WARNING: This piece was reported by American Banking News and is the property of of American Banking News. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/01/15/zacks-brokerages-anticipate-mgp-ingredients-inc-mgpi-will-post-quarterly-sales-of-85-59-million.html.

About MGP Ingredients

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.

Get a free copy of the Zacks research report on MGP Ingredients (MGPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for MGP Ingredients Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGP Ingredients and related companies with MarketBeat.com's FREE daily email newsletter.