MGP Ingredients (MGPI) : Zacks Investment Research ranks MGP Ingredients (MGPI) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. The average broker rating of 2 research analysts is 1, which indicates as a Strong Buy.
MGP Ingredients (MGPI) : 2 Wall Street analysts covering MGP Ingredients (MGPI) believe that the average level the stock could reach for the short term is $46. The maximum price target given is $50 and the minimum target for short term is around $42, hence the standard deviation is calculated at $5.66.
For the current week, the company shares have a recommendation consensus of Buy.
MGP Ingredients (NASDAQ:MGPI): The stock opened at $38.18 on Wednesday but the bulls could not build on the opening and the stock topped out at $39.50 for the day. The stock traded down to $33.50 during the day, due to lack of any buying support eventually closed down at $34.74 with a loss of -18.22% for the day. The stock had closed at $42.48 on the previous day. The total traded volume was 1,327,411 shares.
MGP Ingredients, Inc. is a holding company with no operations of its own. The Companys principal directly-owned operating subsidiaries are MGPI Processing, Inc. and MGPI of Indiana, LLC (MGPI-I). The Company through its subsidiaries produces distillery and ingredient products, which are derived from corn, rye and barley, and wheat flour, primarily to serve the packaged goods industry. The Company had two segments: distillery products and ingredient solutions. The distillery products segment consists of food grade alcohol, along with fuel grade alcohol, distillers feed and corn oil, which are co-products of its distillery operations. Ingredient solutions segment consist of specialty starches and proteins, commodity starch, and vital wheat gluten (commodity protein).