Roth Capital Reduces Earnings Estimates for MGP Ingredients

MGP Ingredients, Inc. (NASDAQ:MGPI) – Analysts at Roth Capital dropped their Q3 2024 earnings estimates for MGP Ingredients in a report released on Friday, October 18th. Roth Capital analyst S. Mcgowan now anticipates that the company will earn $1.24 per share for the quarter, down from their prior forecast of $1.46. The consensus estimate for MGP Ingredients’ current full-year earnings is $6.25 per share. Roth Capital also issued estimates for MGP Ingredients’ Q1 2026 earnings at $1.46 EPS and Q2 2026 earnings at $1.82 EPS.

Several other research firms also recently issued reports on MGPI. Truist Financial decreased their price objective on shares of MGP Ingredients from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Lake Street Capital downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and decreased their price objective for the company from $135.00 to $75.00 in a report on Friday. Roth Mkm decreased their price objective on shares of MGP Ingredients from $92.00 to $88.00 and set a “buy” rating on the stock in a report on Friday. Finally, Loop Capital set a $75.00 price objective on shares of MGP Ingredients in a report on Friday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.60.

MGP Ingredients Stock Down 24.2 %

MGPI stock opened at $61.86 on Monday. The firm has a market cap of $1.36 billion, a PE ratio of 14.29, a P/E/G ratio of 1.16 and a beta of 0.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.22 and a current ratio of 6.44. The firm’s fifty day moving average is $84.13 and its 200 day moving average is $80.13. MGP Ingredients has a one year low of $59.10 and a one year high of $102.42.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.17. The firm had revenue of $190.80 million for the quarter, compared to analyst estimates of $189.06 million. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 earnings per share.

Institutional Investors Weigh In On MGP Ingredients

A number of institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC increased its position in shares of MGP Ingredients by 118.2% during the third quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $200,000 after acquiring an additional 1,300 shares during the last quarter. ZWJ Investment Counsel Inc. grew its holdings in shares of MGP Ingredients by 2.5% in the third quarter. ZWJ Investment Counsel Inc. now owns 293,580 shares of the company’s stock valued at $24,440,000 after purchasing an additional 7,042 shares in the last quarter. Creative Planning grew its holdings in shares of MGP Ingredients by 66.3% in the third quarter. Creative Planning now owns 13,145 shares of the company’s stock valued at $1,094,000 after purchasing an additional 5,241 shares in the last quarter. Diversified Trust Co grew its holdings in shares of MGP Ingredients by 4.7% in the third quarter. Diversified Trust Co now owns 15,125 shares of the company’s stock valued at $1,259,000 after purchasing an additional 675 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of MGP Ingredients by 19.4% in the third quarter. Park Avenue Securities LLC now owns 3,378 shares of the company’s stock valued at $281,000 after purchasing an additional 549 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Karen Seaberg sold 12,092 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $90.65, for a total transaction of $1,096,139.80. Following the completion of the sale, the director now directly owns 54,542 shares in the company, valued at approximately $4,944,232.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 36.20% of the stock is owned by company insiders.

MGP Ingredients Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, August 16th. MGP Ingredients’s payout ratio is currently 11.09%.

About MGP Ingredients

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.