MGP Ingredients (MGPI) Expected to Announce Earnings on Thursday

MGP Ingredients (NASDAQ:MGPI) will likely be posting its quarterly earnings results before the market opens on Thursday, February 27th. Analysts expect MGP Ingredients to post earnings of $1.49 per share and revenue of $177.17 million for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

MGP Ingredients Price Performance

Shares of NASDAQ MGPI opened at $32.56 on Thursday. The firm’s 50-day moving average price is $37.06 and its 200-day moving average price is $58.42. MGP Ingredients has a 1-year low of $31.81 and a 1-year high of $92.90. The firm has a market capitalization of $714.69 million, a P/E ratio of 6.77 and a beta of 0.62. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. TD Cowen lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating and dropped their price objective for the company from $66.00 to $50.00 in a report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Roth Mkm lowered their target price on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Finally, Truist Financial lowered their target price on shares of MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.29.

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.