The Middleby Corporation (MIDD) Receives Average Rating of “Hold” from Brokerages

The Middleby Corporation (NASDAQ:MIDD) has received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $141.67.

MIDD has been the subject of several recent research reports. Zacks Investment Research downgraded shares of The Middleby Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Macquarie upgraded shares of The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 target price for the company in a research note on Tuesday, August 15th. BMO Capital Markets reiterated a “buy” rating and issued a $150.00 target price on shares of The Middleby Corporation in a research note on Friday, August 11th. BidaskClub upgraded shares of The Middleby Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Seaport Global Securities initiated coverage on shares of The Middleby Corporation in a research note on Thursday, June 29th. They issued a “neutral” rating and a $128.00 target price for the company.

Shares of The Middleby Corporation (NASDAQ:MIDD) traded up 1.49% during mid-day trading on Friday, hitting $123.51. 501,365 shares of the company traded hands. The firm has a 50-day moving average of $124.13 and a 200-day moving average of $130.82. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 23.13 and a beta of 1.81. The Middleby Corporation has a one year low of $108.45 and a one year high of $150.87.

The Middleby Corporation (NASDAQ:MIDD) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. The business had revenue of $579.34 million during the quarter, compared to the consensus estimate of $587.49 million. On average, equities analysts predict that The Middleby Corporation will post $5.61 earnings per share for the current year.

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In other The Middleby Corporation news, Director John R. Miller III sold 8,500 shares of The Middleby Corporation stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 16,000 shares in the company, valued at $1,896,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in MIDD. Bank of New York Mellon Corp raised its stake in shares of The Middleby Corporation by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 285,833 shares of the industrial products company’s stock valued at $39,001,000 after buying an additional 4,927 shares during the last quarter. Tygh Capital Management Inc. raised its stake in shares of The Middleby Corporation by 3.7% in the first quarter. Tygh Capital Management Inc. now owns 25,139 shares of the industrial products company’s stock valued at $3,430,000 after buying an additional 892 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of The Middleby Corporation during the first quarter valued at about $736,000. DekaBank Deutsche Girozentrale raised its stake in shares of The Middleby Corporation by 145.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 3,923 shares of the industrial products company’s stock valued at $558,000 after buying an additional 2,323 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of The Middleby Corporation by 2.7% in the first quarter. Advisors Asset Management Inc. now owns 5,558 shares of the industrial products company’s stock valued at $758,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

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.

Analyst Recommendations for The Middleby Corporation (NASDAQ:MIDD)

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