MGP Ingredients (NASDAQ:MGPI) PT Lowered to $95.00 at Truist Financial

MGP Ingredients (NASDAQ:MGPI) had its price objective decreased by analysts at Truist Financial from $125.00 to $95.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 17.24% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Roth Mkm restated a “buy” rating and set a $92.00 price objective on shares of MGP Ingredients in a research report on Thursday, July 25th. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Monday, August 5th.

MGP Ingredients Price Performance

Shares of NASDAQ MGPI traded up $0.88 during trading on Wednesday, reaching $81.03. The company had a trading volume of 14,677 shares, compared to its average volume of 191,239. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.22 and a current ratio of 6.44. The stock has a market cap of $1.78 billion, a PE ratio of 18.68, a PEG ratio of 1.16 and a beta of 0.59. The business’s 50 day moving average price is $84.69 and its 200-day moving average price is $80.30. MGP Ingredients has a 52 week low of $68.86 and a 52 week high of $103.04.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.17. The business had revenue of $190.80 million for the quarter, compared to analyst estimates of $189.06 million. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Analysts expect that MGP Ingredients will post 6.25 earnings per share for the current year.

Insider Activity

In other news, Director Karen Seaberg sold 12,092 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $90.65, for a total value of $1,096,139.80. Following the transaction, the director now owns 54,542 shares of the company’s stock, valued at approximately $4,944,232.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 36.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MGPI. Covestor Ltd increased its position in MGP Ingredients by 23.3% during the 1st quarter. Covestor Ltd now owns 795 shares of the company’s stock valued at $68,000 after purchasing an additional 150 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of MGP Ingredients by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 13,680 shares of the company’s stock valued at $1,178,000 after buying an additional 177 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of MGP Ingredients by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the company’s stock valued at $588,000 after purchasing an additional 200 shares during the last quarter. ProShare Advisors LLC increased its position in MGP Ingredients by 7.4% during the first quarter. ProShare Advisors LLC now owns 3,193 shares of the company’s stock valued at $275,000 after acquiring an additional 220 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of MGP Ingredients by 477.9% in the 2nd quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 325 shares during the period. 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.