MGP Ingredients, Inc. (NASDAQ:MGPI) Upgraded to “Buy” at BidaskClub
BidaskClub upgraded shares of MGP Ingredients, Inc. (NASDAQ:MGPI) from a hold rating to a buy rating in a research report sent to investors on Friday morning.
Several other equities research analysts also recently commented on the company. Zacks Investment Research downgraded MGP Ingredients from a buy rating to a hold rating in a report on Friday, June 30th. Sidoti downgraded MGP Ingredients from a buy rating to a neutral rating in a report on Monday, May 15th. Finally, Craig Hallum set a $70.00 target price on MGP Ingredients and gave the company a buy rating in a report on Saturday, May 6th.
MGP Ingredients (MGPI) traded up 0.02% during mid-day trading on Friday, hitting $54.31. 115,635 shares of the company were exchanged. The firm has a 50 day moving average price of $51.37 and a 200 day moving average price of $49.69. The stock has a market cap of $907.47 million, a price-to-earnings ratio of 28.43 and a beta of 0.99. MGP Ingredients has a 12 month low of $31.93 and a 12 month high of $58.00.
MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, May 4th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. The business had revenue of $87.20 million for the quarter, compared to the consensus estimate of $78.36 million. MGP Ingredients had a return on equity of 22.54% and a net margin of 9.52%. The firm’s revenue was up 13.5% on a year-over-year basis. Analysts anticipate that MGP Ingredients will post $1.72 EPS for the current fiscal year.
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In other MGP Ingredients news, Director Karen Seaberg sold 6,288 shares of MGP Ingredients stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $51.42, for a total transaction of $323,328.96. Following the sale, the director now directly owns 10,591 shares in the company, valued at approximately $544,589.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 16,152 shares of company stock worth $870,277 over the last 90 days. 23.50% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of MGPI. UBS Group AG increased its stake in MGP Ingredients by 2.0% in the first quarter. UBS Group AG now owns 7,024 shares of the company’s stock valued at $381,000 after buying an additional 137 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in MGP Ingredients by 6.1% in the first quarter. Parametric Portfolio Associates LLC now owns 5,239 shares of the company’s stock valued at $284,000 after buying an additional 302 shares in the last quarter. Stifel Financial Corp increased its stake in MGP Ingredients by 4.5% in the first quarter. Stifel Financial Corp now owns 7,084 shares of the company’s stock valued at $383,000 after buying an additional 307 shares in the last quarter. Victory Capital Management Inc. increased its stake in MGP Ingredients by 26.7% in the first quarter. Victory Capital Management Inc. now owns 1,840 shares of the company’s stock valued at $100,000 after buying an additional 388 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in MGP Ingredients by 2.2% in the first quarter. Teachers Advisors LLC now owns 22,829 shares of the company’s stock valued at $1,238,000 after buying an additional 496 shares in the last quarter. Institutional investors own 97.49% of the company’s stock.
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.
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