MGP Ingredients (NASDAQ:MGPI) Raised to Hold at StockNews.com

MGP Ingredients (NASDAQ:MGPI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Separately, Wedbush restated an “outperform” rating and issued a $120.00 price objective on shares of MGP Ingredients in a report on Wednesday, April 10th.

MGP Ingredients Stock Down 1.6 %

NASDAQ:MGPI opened at $77.78 on Thursday. MGP Ingredients has a twelve month low of $75.78 and a twelve month high of $124.96. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 1.15 and a beta of 0.76. The stock has a fifty day simple moving average of $83.54 and a 200-day simple moving average of $90.52. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, February 22nd. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.26. The firm had revenue of $214.90 million during the quarter, compared to the consensus estimate of $206.87 million. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. Analysts anticipate that MGP Ingredients will post 6.18 EPS for the current year.

Insider Buying and Selling at MGP Ingredients

In related news, VP Erika Lapish bought 500 shares of the business’s stock in a transaction on Monday, February 26th. The shares were bought at an average price of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the purchase, the vice president now directly owns 550 shares of the company’s stock, valued at $42,823. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 28.70% of the stock is owned by insiders.

Institutional Investors Weigh In On MGP Ingredients

A number of large investors have recently modified their holdings of the business. Congress Asset Management Co. MA grew its stake in shares of MGP Ingredients by 21.7% during the first quarter. Congress Asset Management Co. MA now owns 387,003 shares of the company’s stock worth $33,333,000 after acquiring an additional 68,950 shares during the last quarter. NBC Securities Inc. boosted its position in MGP Ingredients by 21.4% in the first quarter. NBC Securities Inc. now owns 8,236 shares of the company’s stock valued at $719,000 after buying an additional 1,451 shares during the last quarter. Moody National Bank Trust Division boosted its position in MGP Ingredients by 23.5% in the first quarter. Moody National Bank Trust Division now owns 12,943 shares of the company’s stock valued at $1,115,000 after buying an additional 2,465 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in MGP Ingredients in the first quarter valued at approximately $3,026,000. Finally, Kingdon Capital Management L.L.C. boosted its position in MGP Ingredients by 34.8% in the fourth quarter. Kingdon Capital Management L.L.C. now owns 55,000 shares of the company’s stock valued at $5,419,000 after buying an additional 14,200 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

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.