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

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

A number of other brokerages have also recently weighed in on MGPI. Roth Mkm dropped their target price 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 reissued an “outperform” rating and set a $120.00 target price on shares of MGP Ingredients in a report on Wednesday, April 10th.

MGP Ingredients Stock Up 1.7 %

NASDAQ MGPI traded up $1.36 during trading hours on Friday, reaching $80.54. 167,790 shares of the company traded hands, compared to its average volume of 207,539. MGP Ingredients has a 12 month low of $75.78 and a 12 month high of $124.96. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.77 billion, a PE ratio of 16.78, a PEG ratio of 1.15 and a beta of 0.76. The company has a 50 day moving average of $82.67 and a two-hundred day moving average of $89.64.

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

Insider Buying and Selling

In other news, VP Erika Lapish acquired 500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $77.86 per share, with a total value of $38,930.00. Following the acquisition, the vice president now directly owns 550 shares in the company, valued at $42,823. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 28.70% of the company’s stock.

Institutional Trading of MGP Ingredients

A number of large investors have recently modified their holdings of MGPI. Mariner LLC increased its stake in MGP Ingredients by 0.3% during the 3rd quarter. Mariner LLC now owns 54,569 shares of the company’s stock valued at $5,756,000 after buying an additional 142 shares during the period. KLR Investment Advisors LLC boosted its position in shares of MGP Ingredients by 5.8% during the 3rd quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock valued at $282,000 after purchasing an additional 159 shares in the last quarter. Cerity Partners LLC boosted its position in shares of MGP Ingredients by 9.3% during the 4th quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock valued at $215,000 after purchasing an additional 186 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of MGP Ingredients by 2.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 9,366 shares of the company’s stock valued at $923,000 after purchasing an additional 206 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of MGP Ingredients by 3.0% during the 3rd quarter. Assetmark Inc. now owns 8,662 shares of the company’s stock valued at $914,000 after purchasing an additional 254 shares in the last quarter. Institutional investors and hedge funds 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.