MGP Ingredients, Inc. (NASDAQ:MGPI) Stock Has Average Target Price of $26.25

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $26.25.

MGPI has been the topic of a number of research analyst reports. Weiss Ratings lowered MGP Ingredients from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. TD Cowen increased their price target on MGP Ingredients from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Roth Capital decreased their price objective on MGP Ingredients from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 16th. Finally, Wells Fargo & Company increased their price target on shares of MGP Ingredients from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday.

MGP Ingredients Stock Performance

NASDAQ:MGPI opened at $17.12 on Friday. The company has a quick ratio of 1.51, a current ratio of 6.91 and a debt-to-equity ratio of 0.56. MGP Ingredients has a fifty-two week low of $12.42 and a fifty-two week high of $26.62. The stock has a market cap of $366.71 million, a PE ratio of -1.47 and a beta of 0.44. The firm’s fifty day simple moving average is $15.00 and its 200-day simple moving average is $18.33.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. MGP Ingredients had a positive return on equity of 6.58% and a negative net margin of 51.12%. The firm had revenue of $117.91 million for the quarter, compared to analysts’ expectations of $119.70 million. During the same period last year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. Analysts expect that MGP Ingredients will post 1.70 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.8%. MGP Ingredients’s dividend payout ratio is -4.12%.

Insider Activity

In other news, insider Paul Lux sold 33,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $17.76, for a total value of $586,080.00. Following the completion of the sale, the insider owned 550,458 shares of the company’s stock, valued at approximately $9,776,134.08. This represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Leslie Lux sold 27,731 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $14.40, for a total transaction of $399,326.40. The disclosure for this sale is available in the SEC filing. Insiders own 31.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MGPI. BlackRock Inc. purchased a new stake in shares of MGP Ingredients during the second quarter worth $22,258,000. Dimensional Fund Advisors LP raised its stake in shares of MGP Ingredients by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 760,128 shares of the company’s stock valued at $13,979,000 after purchasing an additional 78,849 shares during the period. Tieton Capital Management LLC bought a new stake in shares of MGP Ingredients during the 2nd quarter valued at $11,252,000. Allspring Global Investments Holdings LLC purchased a new stake in MGP Ingredients during the 1st quarter worth about $3,064,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in MGP Ingredients in the 1st quarter worth about $2,725,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Company Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a producer and marketer of distilled spirits and specialty food and beverage ingredients. The company operates distilleries and processing facilities that manufacture bourbon, rye whiskey, vodka, gin, tequila and other distilled products, as well as grain-based alcohol and related ingredients.

The company serves customers through both its Distilling Solutions and Branded Spirits businesses. Its branded portfolio includes products such as Ezra Brooks, Yellowstone, Daviess County, El Mayor and Everclear, while its distilling operations supply spirits and alcohol to beverage companies and other commercial customers.