Stifel Nicolaus Initiates Coverage on MGP Ingredients (MGPI)

Analysts at Stifel Nicolaus initiated coverage on shares of MGP Ingredients (NASDAQ:MGPI) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating and a $73.00 price target on the stock. Stifel Nicolaus’ target price suggests a potential downside of 2.34% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut MGP Ingredients from a “buy” rating to a “hold” rating in a report on Thursday, November 23rd. SunTrust Banks reaffirmed a “buy” rating on shares of MGP Ingredients in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $71.75.

MGP Ingredients (MGPI) opened at $74.75 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 4.45 and a debt-to-equity ratio of 0.21. MGP Ingredients has a twelve month low of $41.16 and a twelve month high of $78.02. The stock has a market cap of $1,252.85, a PE ratio of 43.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.95.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, November 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.45. MGP Ingredients had a net margin of 10.56% and a return on equity of 18.70%. The firm had revenue of $86.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter last year, the company posted $0.55 earnings per share. MGP Ingredients’s revenue was up 8.0% on a year-over-year basis. equities analysts expect that MGP Ingredients will post 2.2 EPS for the current fiscal year.

In other news, Director Daryl Schaller sold 20,000 shares of MGP Ingredients stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $72.58, for a total transaction of $1,451,600.00. Following the sale, the director now owns 2,851 shares of the company’s stock, valued at $206,925.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen Seaberg sold 2,492 shares of MGP Ingredients stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $73.05, for a total value of $182,040.60. Following the sale, the director now directly owns 10,591 shares in the company, valued at approximately $773,672.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,797 shares of company stock worth $1,973,320. Corporate insiders own 23.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in MGP Ingredients by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,165 shares of the company’s stock worth $111,000 after purchasing an additional 325 shares in the last quarter. SG Americas Securities LLC bought a new stake in MGP Ingredients during the third quarter worth approximately $128,000. ETF Managers Group LLC bought a new stake in MGP Ingredients during the second quarter worth approximately $134,000. Suntrust Banks Inc. bought a new stake in MGP Ingredients during the second quarter worth approximately $208,000. Finally, Aperio Group LLC bought a new stake in MGP Ingredients during the second quarter worth approximately $240,000.

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MGP Ingredients Company Profile

MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.

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