National Securities Corp analyst Ben Klieve reiterated a Buy rating on MGP Ingredients (MGPI – Research Report) today and set a price target of $75.00. The company’s shares closed last Monday at $54.54, close to its 52-week high of $58.52.
Klieve has an average return of 45.7% when recommending MGP Ingredients.
According to TipRanks.com, Klieve is ranked #239 out of 7257 analysts.
Currently, the analyst consensus on MGP Ingredients is a Moderate Buy with an average price target of $55.67.
MGP Ingredients’ market cap is currently $922.6M and has a P/E ratio of 21.80. The company has a Price to Book ratio of 3.57.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGPI in relation to earlier this year. Earlier this month, Karen Seaberg, a Director at MGPI sold 5,156 shares for a total of $254,706.
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MGP Ingredients, Inc. engages in the manufacture and trade of food, beverage, specialty wheat protein, and starch food ingredients. It operates through the following segments: Distillery Products and Ingredient Solutions. The Distillery Products segment consists of food grade alcohol and distillery co-products, such as distillers feed and fuel grade alcohol. This segment also includes warehouse services, including barrel put away, barrel storage, and barrel retrieval services. The Ingredient Solutions segment consists of specialty starches and proteins and commodity starches and proteins. The company was founded by Cloud L. Cray in 1941 and is headquartered in Atchison, KS.