TD Cowen Issues Pessimistic Forecast for MGP Ingredients (NASDAQ:MGPI) Stock Price

MGP Ingredients (NASDAQ:MGPI) had its price objective lowered by analysts at TD Cowen from $27.00 to $24.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would suggest a potential downside of 3.07% from the stock’s current price.

Several other analysts have also recently commented on MGPI. Wall Street Zen upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Wells Fargo & Company decreased their target price on MGP Ingredients from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of MGP Ingredients in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.25.

MGP Ingredients Stock Up 0.0%

Shares of MGPI opened at $24.76 on Thursday. The business’s 50 day moving average is $24.39 and its 200 day moving average is $26.73. The company has a current ratio of 2.78, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. MGP Ingredients has a 12-month low of $21.67 and a 12-month high of $38.11. The company has a market capitalization of $527.14 million, a PE ratio of -36.96 and a beta of 0.37.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.23. The business had revenue of $130.91 million during the quarter, compared to analyst estimates of $128.33 million. MGP Ingredients had a negative net margin of 2.56% and a positive return on equity of 9.65%. The company’s revenue was down 18.9% on a year-over-year basis. During the same period last year, the firm posted $1.29 EPS. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. Research analysts expect that MGP Ingredients will post 5.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Karen Seaberg sold 81,616 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $25.84, for a total value of $2,108,957.44. Following the completion of the sale, the director directly owned 35,285 shares of the company’s stock, valued at $911,764.40. This trade represents a 69.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Caroline Lux Kaplan sold 30,000 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.85, for a total value of $715,500.00. Following the completion of the transaction, the insider owned 560,958 shares of the company’s stock, valued at approximately $13,378,848.30. This trade represents a 5.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 334,535 shares of company stock worth $8,224,668. Company insiders own 34.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in shares of MGP Ingredients by 18.6% in the 4th quarter. SG Americas Securities LLC now owns 8,318 shares of the company’s stock worth $202,000 after acquiring an additional 1,305 shares during the last quarter. JPMorgan Chase & Co. raised its position in MGP Ingredients by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 159,234 shares of the company’s stock worth $3,852,000 after purchasing an additional 1,655 shares during the period. Virtus Advisers LLC purchased a new stake in MGP Ingredients in the 3rd quarter worth about $433,000. Verition Fund Management LLC lifted its stake in MGP Ingredients by 39.1% in the third quarter. Verition Fund Management LLC now owns 47,016 shares of the company’s stock worth $1,137,000 after purchasing an additional 13,225 shares during the last quarter. Finally, Mairs & Power Inc. boosted its position in shares of MGP Ingredients by 0.4% during the third quarter. Mairs & Power Inc. now owns 176,393 shares of the company’s stock valued at $4,267,000 after buying an additional 619 shares during the period. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Company Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.