MGPI has been the subject of several other reports. Zacks Investment Research raised MGP Ingredients from a sell rating to a hold rating in a research note on Wednesday, January 1st. ValuEngine raised MGP Ingredients from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $80.50.
MGPI stock opened at $50.95 on Friday. The business has a fifty day moving average price of $47.58 and a 200 day moving average price of $51.58. MGP Ingredients has a fifty-two week low of $41.68 and a fifty-two week high of $100.00. The stock has a market capitalization of $867.53 million, a price-to-earnings ratio of 23.48 and a beta of 1.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.00 and a quick ratio of 1.41.
MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.16). MGP Ingredients had a net margin of 9.94% and a return on equity of 17.78%. The business had revenue of $90.68 million for the quarter, compared to analyst estimates of $99.49 million. During the same period in the prior year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities analysts expect that MGP Ingredients will post 2.6 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in shares of MGP Ingredients in the 4th quarter valued at $44,000. Diversified Trust Co boosted its position in shares of MGP Ingredients by 22.8% in the 4th quarter. Diversified Trust Co now owns 6,200 shares of the company’s stock worth $300,000 after purchasing an additional 1,150 shares during the last quarter. Millennium Management LLC boosted its position in shares of MGP Ingredients by 267.3% in the 3rd quarter. Millennium Management LLC now owns 301,879 shares of the company’s stock worth $14,997,000 after purchasing an additional 219,691 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of MGP Ingredients by 193.5% in the 3rd quarter. Squarepoint Ops LLC now owns 23,482 shares of the company’s stock worth $1,167,000 after purchasing an additional 15,482 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of MGP Ingredients by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 20,227 shares of the company’s stock worth $1,005,000 after purchasing an additional 242 shares during the last quarter.
MGP Ingredients Company Profile
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.
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