Wells Fargo & Company Issues Pessimistic Forecast for MGP Ingredients (NASDAQ:MGPI) Stock Price

MGP Ingredients (NASDAQ:MGPI) had its price objective cut by Wells Fargo & Company from $22.00 to $17.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 30.57% from the stock’s previous close.

A number of other analysts also recently issued reports on MGPI. Weiss Ratings reiterated a “sell (d-)” rating on shares of MGP Ingredients in a report on Friday, July 31st. TD Cowen raised their price objective on MGP Ingredients from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

MGP Ingredients Stock Up 2.0%

NASDAQ MGPI opened at $13.02 on Monday. MGP Ingredients has a 12 month low of $12.42 and a 12 month high of $26.77. The company has a current ratio of 6.99, a quick ratio of 1.65 and a debt-to-equity ratio of 0.61. The stock has a market cap of $278.76 million, a PE ratio of -1.16 and a beta of 0.49. The stock’s 50 day moving average is $15.91 and its 200 day moving average is $17.24.

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

Insiders Place Their Bets

In other news, insider Leslie Lux sold 27,731 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $14.40, for a total value of $399,326.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul S. Lux sold 33,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $17.76, for a total transaction of $586,080.00. Following the completion of the sale, the insider owned 550,458 shares in the company, valued at approximately $9,776,134.08. This trade represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 31.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new position in MGP Ingredients in the 2nd quarter valued at $28,000. Quantinno Capital Management LP lifted its position in shares of MGP Ingredients by 9.6% during the first quarter. Quantinno Capital Management LP now owns 25,340 shares of the company’s stock worth $466,000 after purchasing an additional 2,215 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of MGP Ingredients during the second quarter valued at $55,000. State of Wyoming boosted its stake in shares of MGP Ingredients by 37.0% during the fourth quarter. State of Wyoming now owns 14,205 shares of the company’s stock valued at $345,000 after purchasing an additional 3,839 shares during the period. Finally, Villanova Investment Management Co LLC grew its holdings in shares of MGP Ingredients by 7.2% in the fourth quarter. Villanova Investment Management Co LLC now owns 78,583 shares of the company’s stock worth $1,910,000 after purchasing an additional 5,258 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

About MGP Ingredients

MGP Ingredients, Inc (NASDAQ: MGPI) is a food and beverage company headquartered in Atchison, Kansas. The company develops and produces distilled spirits, specialty wheat proteins, and specialty starches for consumer brands, food manufacturers, and other commercial customers.

Through its branded spirits business, MGP offers a portfolio of bourbon, rye whiskey, American whiskey, vodka, gin, and other distilled products. Its brands include Lux Row Distillers’ Ezra Brooks, Daviess County, and Yellowstone Bourbon, as well as Remus Repeal Reserve.