MGP Ingredients (NASDAQ:MGPI) Downgraded by StockNews.com

MGP Ingredients (NASDAQ:MGPI) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Several other research firms have also issued reports on MGPI. Roth Mkm cut their price target on shares of MGP Ingredients from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday. Wedbush reiterated an “outperform” rating and set a $120.00 price objective on shares of MGP Ingredients in a research note on Wednesday, April 10th.

MGP Ingredients Trading Up 1.7 %

Shares of NASDAQ:MGPI traded up $1.36 during trading on Friday, reaching $80.54. 167,790 shares of the company were exchanged, compared to its average volume of 207,539. The firm has a market capitalization of $1.77 billion, a PE ratio of 16.78, a P/E/G ratio of 1.15 and a beta of 0.76. The business’s fifty day simple moving average is $82.67 and its 200-day simple moving average is $89.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.51 and a quick ratio of 1.47. MGP Ingredients has a 12-month low of $75.78 and a 12-month high of $124.96.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.26. The company had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. MGP Ingredients’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. On average, research analysts anticipate that MGP Ingredients will post 6.18 EPS for the current year.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, VP Erika Lapish bought 500 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the transaction, the vice president now directly owns 550 shares of the company’s stock, valued at approximately $42,823. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 28.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its position in MGP Ingredients by 464.8% during the fourth quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock valued at $37,000 after purchasing an additional 330 shares during the period. Legacy Financial Group LLC acquired a new position in shares of MGP Ingredients in the third quarter worth about $61,000. Quest Partners LLC acquired a new position in shares of MGP Ingredients in the fourth quarter worth about $72,000. Bare Financial Services Inc acquired a new position in shares of MGP Ingredients in the fourth quarter worth about $106,000. Finally, Quantbot Technologies LP raised its position in shares of MGP Ingredients by 99.9% in the third quarter. Quantbot Technologies LP now owns 1,641 shares of the company’s stock worth $173,000 after acquiring an additional 820 shares during the period. 77.11% of the stock is currently owned by institutional investors and hedge funds.

About MGP Ingredients

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.