BidaskClub cut shares of MGP Ingredients (NASDAQ:MGPI) from a buy rating to a hold rating in a research report report published on Tuesday morning, BidAskClub reports.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of W. R. Grace & Co from a buy rating to a hold rating in a report on Wednesday, May 1st. ValuEngine raised shares of United Overseas Bank from a sell rating to a hold rating in a report on Monday, June 17th.

MGPI traded up $0.73 during trading on Tuesday, reaching $68.86. 12,097 shares of the company’s stock were exchanged, compared to its average volume of 131,873. The firm has a fifty day moving average of $64.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.25 and a quick ratio of 1.59. MGP Ingredients has a fifty-two week low of $53.66 and a fifty-two week high of $100.00. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 31.73 and a beta of 1.75.

MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Wednesday, May 1st. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. MGP Ingredients had a net margin of 9.97% and a return on equity of 19.31%. The firm had revenue of $89.10 million during the quarter, compared to analyst estimates of $91.25 million. During the same quarter in the previous year, the business earned $0.52 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts forecast that MGP Ingredients will post 2.62 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. First Hawaiian Bank grew its holdings in shares of MGP Ingredients by 74.2% in the 1st quarter. First Hawaiian Bank now owns 472 shares of the company’s stock valued at $36,000 after buying an additional 201 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of MGP Ingredients in the 1st quarter valued at $37,000. Quantamental Technologies LLC acquired a new position in shares of MGP Ingredients in the 1st quarter valued at $217,000. UMB Bank N A MO acquired a new position in shares of MGP Ingredients in the 1st quarter valued at $230,000. Finally, Stevens Capital Management LP acquired a new position in shares of MGP Ingredients in the 1st quarter valued at $230,000. 98.10% of the stock is owned by institutional investors.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.

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