Wells Fargo & Company Lowers MGP Ingredients (NASDAQ:MGPI) Price Target to $24.00

MGP Ingredients (NASDAQ:MGPI) had its price target decreased by investment analysts at Wells Fargo & Company from $29.00 to $24.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 26.32% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Benchmark initiated coverage on shares of MGP Ingredients in a research report on Thursday, January 22nd. They set a “buy” rating and a $35.00 target price on the stock. TD Cowen reduced their target price on MGP Ingredients from $27.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of MGP Ingredients in a report on Thursday, January 22nd. Wall Street Zen downgraded MGP Ingredients from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, Zacks Research lowered MGP Ingredients from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, MGP Ingredients presently has a consensus rating of “Hold” and a consensus target price of $30.00.

MGP Ingredients Price Performance

MGPI opened at $19.00 on Thursday. MGP Ingredients has a 1 year low of $18.48 and a 1 year high of $35.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.61 and a quick ratio of 0.69. The company has a market capitalization of $405.84 million, a price-to-earnings ratio of -3.82 and a beta of 0.42. The firm’s fifty day moving average price is $24.65 and its two-hundred day moving average price is $25.37.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Wednesday, February 25th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.49 by $0.14. MGP Ingredients had a negative net margin of 19.82% and a positive return on equity of 7.46%. The company had revenue of $138.32 million during the quarter, compared to the consensus estimate of $132.84 million. During the same quarter in the prior year, the company posted $1.57 earnings per share. The firm’s revenue for the quarter was down 23.5% on a year-over-year basis. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, analysts anticipate that MGP Ingredients will post 5.56 earnings per share for the current fiscal year.

Insider Transactions at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 81,616 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $25.84, for a total value of $2,108,957.44. Following the sale, the director directly owned 35,285 shares in the company, valued at $911,764.40. The trade was a 69.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 304,535 shares of company stock valued at $7,509,168 over the last three months. Company insiders own 34.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB bought a new stake in MGP Ingredients in the 3rd quarter valued at about $1,752,000. Magnetar Financial LLC bought a new stake in shares of MGP Ingredients in the second quarter valued at approximately $584,000. Assenagon Asset Management S.A. purchased a new stake in shares of MGP Ingredients during the 3rd quarter valued at approximately $4,702,000. XTX Topco Ltd bought a new position in MGP Ingredients in the 2nd quarter worth approximately $1,280,000. Finally, Federated Hermes Inc. boosted its holdings in MGP Ingredients by 32.8% in the 3rd quarter. Federated Hermes Inc. now owns 987,123 shares of the company’s stock worth $23,879,000 after buying an additional 243,909 shares during the period. Institutional investors own 77.11% of the company’s stock.

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.