Truist Financial Reaffirms Their Buy Rating on MGP Ingredients (MGPI)

Truist Financial analyst Bill Chappell maintained a Buy rating on MGP Ingredients (MGPI – Research Report) today. The company’s shares closed last Friday at $50.90.

Chappell covers the Consumer Defensive sector, focusing on stocks such as MGP Ingredients, Celsius Holdings, and Keurig Dr Pepper. According to TipRanks, Chappell has an average return of 4.5% and a 54.05% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MGP Ingredients with a $57.00 average price target, an 11.98% upside from current levels. In a report released on November 4, Roth MKM also maintained a Buy rating on the stock with a $65.00 price target.

MGPI market cap is currently $1.12B and has a P/E ratio of 10.56.

Based on the recent corporate insider activity of 49 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. Most recently, in August 2024, Lori L.S. Mingus, a Director at MGPI sold 2,764.00 shares for a total of $251,194.32.

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MGP Ingredients (MGPI) Company Description:

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.