MGP Ingredients (NASDAQ:MGPI) Stock Rating Lowered by StockNews.com

MGP Ingredients (NASDAQ:MGPI) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

MGPI has been the topic of a number of other research reports. Roth Mkm dropped their price objective on MGP Ingredients from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday. Wedbush reiterated an “outperform” rating and issued a $120.00 price objective on shares of MGP Ingredients in a report on Wednesday, April 10th.

MGP Ingredients Price Performance

MGPI opened at $80.54 on Friday. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.17 and a beta of 0.76. The stock’s 50-day moving average price is $82.46 and its 200 day moving average price is $89.49. MGP Ingredients has a 12-month low of $75.78 and a 12-month high of $124.96.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.26. The company had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. MGP Ingredients’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. As a group, sell-side analysts expect that MGP Ingredients will post 6.18 earnings per share for the current year.

Insider Activity

In other MGP Ingredients news, VP Erika Lapish purchased 500 shares of MGP Ingredients stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $77.86 per share, with a total value of $38,930.00. Following the acquisition, the vice president now directly owns 550 shares of the company’s stock, valued at $42,823. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 28.70% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

Several hedge funds and other institutional investors have recently bought and sold shares of MGPI. Mariner LLC increased its position in MGP Ingredients by 0.3% during the third quarter. Mariner LLC now owns 54,569 shares of the company’s stock worth $5,756,000 after buying an additional 142 shares in the last quarter. KLR Investment Advisors LLC increased its position in MGP Ingredients by 5.8% during the third quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock worth $282,000 after buying an additional 159 shares in the last quarter. Cerity Partners LLC increased its position in MGP Ingredients by 9.3% during the fourth quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock worth $215,000 after buying an additional 186 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in MGP Ingredients by 2.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 9,366 shares of the company’s stock worth $923,000 after buying an additional 206 shares in the last quarter. Finally, Assetmark Inc. increased its position in MGP Ingredients by 3.0% during the third quarter. Assetmark Inc. now owns 8,662 shares of the company’s stock worth $914,000 after buying an additional 254 shares in the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

MGP Ingredients Company Profile

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.