Wells Fargo cuts target for MGP Ingredients stock to USD 17.00
Published on 10/06/2026 at 13:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
MGP Ingredients (US55303J1060) was trading at EUR 11.35 at Lang & Schwarz on October 6, 2026 at 1:35 p.m. CEST, unchanged from the prior close of EUR 11.35. Wells Fargo cut its price target for MGP Ingredients from USD 22.00 to USD 17.00 in a note dated October 5, 2026, while retaining an Overweight rating, as MarketBeat reports.
Wells Fargo lowers the target
The revised USD 17.00 objective remains above the latest US market reference for MGPI, but the change reduces Wells Fargo's stated valuation level by USD 5.00. The brokerage kept its Overweight view, making the target reduction the clearest fresh analyst action for the stock on October 5, 2026.
MarketBeat also reports a consensus Hold rating based on three Buy ratings, two Hold ratings and one Sell rating, with an average target of USD 26.00. That mix shows a wide gap between the latest Wells Fargo target and the broader analyst average, while the rating distribution remains divided.
Second-quarter figures show pressure
MGP Ingredients reported adjusted earnings per share of USD 0.72 in the second quarter of 2026, above the USD 0.49 consensus estimate, according to MarketBeat. Revenue was USD 124.36 million for the same quarter, down 14.50 percent from the prior-year period and below the USD 125.16 million consensus estimate.
The earnings comparison is favorable, but the sales trend is weaker. MarketBeat reports that fiscal 2026 adjusted earnings per share guidance remains USD 1.50-1.80, giving investors a company forecast against which the second-quarter result can be measured.
Revenue outlook meets a weak stock chart
The latest reported quarter combines an earnings beat with lower revenue, while the stock remains close to its USD 12.42 52-week low and below its USD 26.77 52-week high on the Nasdaq. The primary listing and ISIN are confirmed by Stock Analysis, which identifies MGPI as a Nasdaq-listed common stock.
The company operates across Distilling Solutions, Branded Spirits and Ingredient Solutions. Its investor-relations page identifies the second quarter ended June 30, 2026 as the latest financial reporting period and describes its portfolio of distilled spirits, branded products and specialty food ingredients.
MGPI holds at EUR 11.35
MGP Ingredients was trading at EUR 11.35 at Lang & Schwarz on October 6, 2026 at 1:35 p.m. CEST, plus 0.00 percent versus the EUR 11.35 prior close at Lang & Schwarz dated October 5, 2026. The next earnings date is October 28, 2026, according to Yahoo Finance.
MGP Ingredients stock facts
- Company: MGP Ingredients, Inc.
- ISIN: US55303J1060
- Ticker: MGPI
- Primary exchange: NASDAQ
- Price Lang & Schwarz (as of October 6, 2026, 1:35 p.m. CEST): EUR 11.35
- Change versus prior close: plus 0.00 percent
- Prior close Lang & Schwarz (October 5, 2026): EUR 11.35
- Market capitalization: USD 273.5 million (as of October 5, 2026)
- 52-week range: USD 12.42-26.77 (as of October 5, 2026)
- Sector / Industry: Consumer Defensive / Beverages - Wineries and Distilleries
- Next earnings date: October 28, 2026
