Shares of MGP Ingredients Inc (NASDAQ:MGPI) have been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $89.00.

MGPI has been the subject of a number of research analyst reports. BidaskClub upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. ValuEngine upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, Zacks Investment Research upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Friday.

Shares of MGPI stock opened at $69.25 on Tuesday. MGP Ingredients has a 52 week low of $64.06 and a 52 week high of $99.73. The company has a market capitalization of $1.20 billion, a PE ratio of 37.03 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.07 and a quick ratio of 1.69.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Thursday, November 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. MGP Ingredients had a net margin of 10.48% and a return on equity of 19.23%. The firm had revenue of $95.00 million during the quarter, compared to analyst estimates of $93.08 million. During the same period in the previous year, the business posted $0.82 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts anticipate that MGP Ingredients will post 2.03 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Wednesday, November 14th. MGP Ingredients’s payout ratio is 17.11%.

In other MGP Ingredients news, VP K. Pigott Thomas acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were bought at an average price of $65.91 per share, with a total value of $65,910.00. Following the completion of the acquisition, the vice president now owns 31,432 shares in the company, valued at approximately $2,071,683.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Seaberg sold 11,175 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $78.33, for a total transaction of $875,337.75. Following the completion of the transaction, the director now directly owns 11,864 shares in the company, valued at approximately $929,307.12. The disclosure for this sale can be found here. Company insiders own 22.19% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of MGP Ingredients by 3.0% in the third quarter. BlackRock Inc. now owns 1,835,610 shares of the company’s stock worth $144,977,000 after buying an additional 53,552 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in shares of MGP Ingredients by 51.4% in the third quarter. Conestoga Capital Advisors LLC now owns 1,117,274 shares of the company’s stock worth $88,242,000 after buying an additional 379,431 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of MGP Ingredients by 25.0% in the third quarter. Jennison Associates LLC now owns 303,406 shares of the company’s stock worth $23,963,000 after buying an additional 60,650 shares during the last quarter. Pembroke Management LTD boosted its holdings in shares of MGP Ingredients by 74.8% in the third quarter. Pembroke Management LTD now owns 272,141 shares of the company’s stock worth $21,494,000 after buying an additional 116,441 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of MGP Ingredients by 4.8% in the third quarter. Bank of New York Mellon Corp now owns 256,708 shares of the company’s stock worth $20,274,000 after buying an additional 11,788 shares during the last quarter.

About MGP Ingredients

MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.

Further Reading: Growth Stocks

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