MGP Ingredients (NASDAQ:MGPI) Price Target Cut to $18.00 by Analysts at TD Cowen

MGP Ingredients (NASDAQ:MGPI) had its price objective decreased by TD Cowen from $20.00 to $18.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 8.93% from the company’s current price.

Several other analysts have also weighed in on the stock. Weiss Ratings lowered shares of MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Roth Mkm cut their price target on MGP Ingredients from $41.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Zacks Research raised shares of MGP Ingredients from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company decreased their target price on MGP Ingredients from $29.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, MGP Ingredients presently has an average rating of “Hold” and a consensus target price of $27.25.

MGP Ingredients Stock Performance

Shares of NASDAQ MGPI traded up $0.17 during mid-day trading on Friday, hitting $16.52. The company had a trading volume of 50,480 shares, compared to its average volume of 250,418. MGP Ingredients has a 12 month low of $15.72 and a 12 month high of $33.38. The firm’s 50 day simple moving average is $18.05 and its two-hundred day simple moving average is $20.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.74 and a quick ratio of 0.56. The stock has a market cap of $353.16 million, a price-to-earnings ratio of -1.48 and a beta of 0.46.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. The company had revenue of $106.43 million for the quarter, compared to analysts’ expectations of $105.32 million. MGP Ingredients had a positive return on equity of 7.48% and a negative net margin of 45.70%.The firm’s revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, equities research analysts forecast that MGP Ingredients will post 1.6 earnings per share for the current year.

Insider Buying and Selling at MGP Ingredients

In other MGP Ingredients news, major shareholder Caroline Lux Kaplan sold 30,000 shares of MGP Ingredients stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $17.82, for a total transaction of $534,600.00. Following the transaction, the insider directly owned 500,958 shares of the company’s stock, valued at $8,927,071.56. The trade was a 5.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 31.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MGP Ingredients

A number of large investors have recently made changes to their positions in the stock. Osaic Holdings Inc. raised its holdings in shares of MGP Ingredients by 130.3% in the 2nd quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock valued at $28,000 after acquiring an additional 529 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of MGP Ingredients by 653.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,304 shares of the company’s stock worth $32,000 after buying an additional 1,131 shares during the period. Global Retirement Partners LLC purchased a new stake in MGP Ingredients during the 4th quarter valued at about $32,000. Quadrant Capital Group LLC boosted its holdings in MGP Ingredients by 237.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,830 shares of the company’s stock valued at $44,000 after acquiring an additional 1,287 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in MGP Ingredients by 278.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock worth $56,000 after purchasing an additional 1,386 shares during the period. 77.11% of the stock is owned by institutional investors.

About MGP Ingredients

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.