MGP Ingredients (NASDAQ:MGPI) Rating Increased to Buy at Lake Street Capital

MGP Ingredients (NASDAQ:MGPI) was upgraded by equities research analysts at Lake Street Capital from a “hold” rating to a “buy” rating in a report released on Thursday,Finviz reports. The firm currently has a $45.00 target price on the stock, down from their previous target price of $55.00. Lake Street Capital’s price target suggests a potential upside of 39.66% from the stock’s current price.

Several other brokerages have also recently weighed in on MGPI. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. TD Cowen downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and dropped their price target for the company from $66.00 to $50.00 in a research report on Wednesday, November 6th. Roth Mkm cut their price target on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Truist Financial lowered their price objective on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Wells Fargo & Company cut their target price on MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.00.

MGP Ingredients Stock Down 1.1 %

MGPI stock opened at $32.22 on Thursday. MGP Ingredients has a fifty-two week low of $31.31 and a fifty-two week high of $92.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The stock has a market capitalization of $707.33 million, a price-to-earnings ratio of 6.70 and a beta of 0.62. The business’s fifty day moving average price is $35.85 and its two-hundred day moving average price is $56.63.

Institutional Trading of MGP Ingredients

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in shares of MGP Ingredients by 45.3% in the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock worth $50,000 after acquiring an additional 186 shares during the last quarter. GAMMA Investing LLC lifted its stake in MGP Ingredients by 162.0% in the 4th quarter. GAMMA Investing LLC now owns 697 shares of the company’s stock valued at $27,000 after purchasing an additional 431 shares during the last quarter. Versant Capital Management Inc boosted its position in MGP Ingredients by 192.5% in the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company’s stock valued at $28,000 after buying an additional 460 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of MGP Ingredients by 73.5% during the third quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock worth $63,000 after buying an additional 322 shares during the last quarter. Finally, Point72 DIFC Ltd increased its holdings in shares of MGP Ingredients by 2,375.6% during the third quarter. Point72 DIFC Ltd now owns 1,015 shares of the company’s stock worth $84,000 after buying an additional 974 shares in the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

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.