The Middleby Corporation (NASDAQ:MIDD) had its price objective lowered by BMO Capital Markets from $150.00 to $145.00 in a report issued on Thursday morning. BMO Capital Markets currently has an outperform rating on the industrial products company’s stock.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of The Middleby Corporation from a sell rating to a strong sell rating in a report on Friday, August 11th. Robert W. Baird cut their price target on shares of The Middleby Corporation from $145.00 to $142.00 and set an outperform rating for the company in a report on Friday, August 11th. Zacks Investment Research upgraded shares of The Middleby Corporation from a hold rating to a buy rating and set a $142.00 price target for the company in a report on Tuesday, July 18th. Susquehanna Bancshares Inc started coverage on shares of The Middleby Corporation in a report on Wednesday, September 27th. They set a positive rating and a $141.00 target price for the company. Finally, Citigroup Inc. restated a neutral rating and set a $130.00 target price on shares of The Middleby Corporation in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $140.63.
Shares of The Middleby Corporation (NASDAQ:MIDD) traded up $1.12 on Thursday, hitting $109.84. 1,333,400 shares of the stock were exchanged, compared to its average volume of 722,185. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.04. The stock has a market cap of $6,141.48, a P/E ratio of 20.27 and a beta of 1.87. The Middleby Corporation has a 1-year low of $107.68 and a 1-year high of $150.87.
The Middleby Corporation (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.01. The business had revenue of $579.34 million during the quarter, compared to the consensus estimate of $587.49 million. The Middleby Corporation had a net margin of 13.22% and a return on equity of 23.17%. equities analysts forecast that The Middleby Corporation will post 5.41 EPS for the current fiscal year.
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In other The Middleby Corporation news, Director Gordon Obrien sold 5,600 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $121.41, for a total transaction of $679,896.00. Following the completion of the transaction, the director now directly owns 11,050 shares in the company, valued at approximately $1,341,580.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Miller III sold 8,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $118.50, for a total transaction of $1,007,250.00. Following the transaction, the director now owns 16,000 shares of the company’s stock, valued at $1,896,000. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of The Middleby Corporation by 10.5% during the second quarter. IFP Advisors Inc now owns 1,031 shares of the industrial products company’s stock worth $125,000 after buying an additional 98 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of The Middleby Corporation by 4.7% during the second quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock worth $130,000 after buying an additional 48 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in shares of The Middleby Corporation by 9.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,124 shares of the industrial products company’s stock worth $137,000 after buying an additional 95 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in shares of The Middleby Corporation during the second quarter worth about $143,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of The Middleby Corporation during the second quarter worth about $154,000. Institutional investors and hedge funds own 94.41% of the company’s stock.
About The Middleby Corporation
The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.
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