Somewhat Favorable Press Coverage Somewhat Unlikely to Impact MGP Ingredients (MGPI) Stock Price
Media headlines about MGP Ingredients (NASDAQ:MGPI) have been trending somewhat positive on Thursday, according to Accern Sentiment Analysis. Accern identifies positive and negative media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. MGP Ingredients earned a media sentiment score of 0.09 on Accern’s scale. Accern also assigned news articles about the company an impact score of 46.0628244374428 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Several equities analysts have issued reports on MGPI shares. Zacks Investment Research upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. SunTrust Banks reissued a “buy” rating on shares of MGP Ingredients in a research note on Friday, November 3rd. Finally, Stifel Nicolaus began coverage on MGP Ingredients in a research note on Tuesday. They issued a “hold” rating and a $73.00 target price for the company. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. MGP Ingredients currently has a consensus rating of “Buy” and a consensus target price of $71.75.
Shares of MGP Ingredients (NASDAQ MGPI) opened at $74.75 on Thursday. The company has a market capitalization of $1,270.08, a price-to-earnings ratio of 43.90, a PEG ratio of 2.31 and a beta of 0.95. MGP Ingredients has a 52 week low of $41.16 and a 52 week high of $78.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.45 and a quick ratio of 1.54.
MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Thursday, November 2nd. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.45. The company had revenue of $86.30 million during the quarter, compared to analysts’ expectations of $83.57 million. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. sell-side analysts predict that MGP Ingredients will post 2.2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Tuesday, November 14th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.16 annualized dividend and a dividend yield of 0.21%. MGP Ingredients’s dividend payout ratio (DPR) is currently 7.37%.
In other news, Director Karen Seaberg sold 5,305 shares of MGP Ingredients stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $64.03, for a total value of $339,679.15. Following the completion of the sale, the director now directly owns 10,591 shares of the company’s stock, valued at approximately $678,141.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daryl Schaller sold 20,000 shares of MGP Ingredients stock in a transaction on Monday, November 6th. The shares were sold at an average price of $72.58, for a total value of $1,451,600.00. Following the completion of the sale, the director now directly owns 2,851 shares of the company’s stock, valued at $206,925.58. The disclosure for this sale can be found here. Insiders sold a total of 27,797 shares of company stock valued at $1,973,320 over the last three months. Insiders own 23.50% of the company’s stock.
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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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