TD Cowen Issues Pessimistic Forecast for MGP Ingredients (NASDAQ:MGPI) Stock Price

MGP Ingredients (NASDAQ:MGPI) had its price target cut by research analysts at TD Cowen from $27.00 to $24.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential downside of 2.72% from the company’s previous close.

MGPI has been the subject of a number of other research reports. Wall Street Zen upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Weiss Ratings restated a “sell (d)” rating on shares of MGP Ingredients in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price target on shares of MGP Ingredients from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, MGP Ingredients currently has a consensus rating of “Hold” and an average price target of $33.25.

MGP Ingredients Stock Performance

Shares of MGPI stock traded up $0.68 during trading hours on Thursday, reaching $24.67. 86,517 shares of the company’s stock were exchanged, compared to its average volume of 235,948. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 0.69. The company’s 50 day moving average is $24.36 and its two-hundred day moving average is $26.77. The company has a market cap of $525.25 million, a P/E ratio of -36.83 and a beta of 0.37. MGP Ingredients has a 1 year low of $21.67 and a 1 year high of $38.11.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.23. The firm had revenue of $130.91 million for the quarter, compared to analyst estimates of $128.33 million. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.MGP Ingredients’s quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 earnings per share. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. Equities research analysts anticipate that MGP Ingredients will post 5.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other MGP Ingredients news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $23.85, for a total value of $715,500.00. Following the transaction, the insider directly owned 560,958 shares in the company, valued at approximately $13,378,848.30. This represents a 5.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen Seaberg sold 181,095 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $24.24, for a total transaction of $4,389,742.80. Following the sale, the director directly owned 37,417 shares in the company, valued at $906,988.08. This represents a 82.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 334,535 shares of company stock valued at $8,224,668. Insiders own 34.40% of the company’s stock.

Institutional Trading of MGP Ingredients

A number of hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. raised its holdings in 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 during the last quarter. Tower Research Capital LLC TRC grew its position in shares of MGP Ingredients by 278.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock valued at $56,000 after purchasing an additional 1,386 shares during the period. GAMMA Investing LLC increased its stake in MGP Ingredients by 89.0% in the second quarter. GAMMA Investing LLC now owns 2,829 shares of the company’s stock valued at $85,000 after purchasing an additional 1,332 shares during the last quarter. Hantz Financial Services Inc. lifted its position in MGP Ingredients by 382.4% during the third quarter. Hantz Financial Services Inc. now owns 3,811 shares of the company’s stock worth $92,000 after buying an additional 3,021 shares during the period. Finally, iSAM Funds UK Ltd purchased a new position in shares of MGP Ingredients during the 3rd quarter worth about $96,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

MGP Ingredients Company Profile

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.