The Middleby Corporation (NASDAQ:MIDD) – Stock analysts at Seaport Global Securities boosted their Q1 2018 EPS estimates for The Middleby Corporation in a research report issued on Thursday. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will post earnings per share of $1.26 for the quarter, up from their previous forecast of $1.24.
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MIDD has been the topic of several other reports. BMO Capital Markets dropped their target price on The Middleby Corporation from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, November 9th. Macquarie raised The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 target price on the stock in a research report on Tuesday, August 15th. Susquehanna Bancshares Inc started coverage on The Middleby Corporation in a research report on Wednesday, September 27th. They issued a “positive” rating and a $141.00 target price on the stock. Citigroup Inc. reissued a “neutral” rating and issued a $130.00 target price on shares of The Middleby Corporation in a research report on Thursday, September 7th. Finally, Zacks Investment Research cut The Middleby Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The Middleby Corporation currently has a consensus rating of “Hold” and an average price target of $140.63.
Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of The Middleby Corporation by 10.5% in 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 during the period. LS Investment Advisors LLC raised its stake in The Middleby Corporation by 4.7% during the 2nd quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 48 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in The Middleby Corporation by 9.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,124 shares of the industrial products company’s stock valued at $137,000 after purchasing an additional 95 shares during the period. Fiduciary Trust Co. bought a new stake in The Middleby Corporation during the 2nd quarter valued at approximately $143,000. Finally, Cubist Systematic Strategies LLC bought a new stake in The Middleby Corporation during the 2nd quarter valued at approximately $154,000. 95.03% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director John R. Miller III sold 8,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $118.50, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gordon Obrien sold 5,600 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total value 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 disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
The Middleby Corporation Company Profile
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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