Wells Fargo & Company Forecasts Strong Price Appreciation for MGP Ingredients (NASDAQ:MGPI) Stock

MGP Ingredients (NASDAQ:MGPI) had its price target boosted by investment analysts at Wells Fargo & Company from $21.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 24.29% from the company’s current price.

MGPI has been the subject of a number of other reports. Weiss Ratings cut MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. TD Cowen decreased their target price on MGP Ingredients from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, June 26th. Finally, Zacks Research upgraded MGP Ingredients from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, MGP Ingredients currently has an average rating of “Hold” and an average price target of $27.25.

MGP Ingredients Stock Performance

Shares of MGPI stock opened at $17.70 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.56 and a current ratio of 6.99. The firm has a market cap of $378.96 million, a P/E ratio of -1.57 and a beta of 0.46. The firm’s 50 day moving average price is $17.15 and its 200-day moving average price is $19.66. MGP Ingredients has a one year low of $15.72 and a one year high of $31.75.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Wednesday, July 29th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.23. The firm had revenue of $124.36 million during the quarter, compared to the consensus estimate of $125.16 million. MGP Ingredients had a negative net margin of 48.08% and a positive return on equity of 7.41%. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, equities research analysts predict that MGP Ingredients will post 1.65 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. grew its stake in MGP Ingredients by 45.7% during the 4th quarter. Federated Hermes Inc. now owns 1,437,836 shares of the company’s stock worth $34,939,000 after purchasing an additional 450,713 shares in the last quarter. Vanguard Group Inc. raised its position in MGP Ingredients by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,222,672 shares of the company’s stock valued at $29,576,000 after purchasing an additional 99,995 shares in the last quarter. Dimensional Fund Advisors LP raised its position in MGP Ingredients by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 760,128 shares of the company’s stock valued at $13,979,000 after purchasing an additional 78,849 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of MGP Ingredients by 13.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 400,896 shares of the company’s stock valued at $12,015,000 after buying an additional 46,978 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of MGP Ingredients by 116.6% in the 1st quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock valued at $10,571,000 after buying an additional 193,660 shares during the period. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

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.