News articles about Middleby (NASDAQ:MIDD) have been trending somewhat positive recently, Accern reports. The research firm scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Middleby earned a daily sentiment score of 0.13 on Accern’s scale. Accern also assigned media coverage about the industrial products company an impact score of 45.4074579998886 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Middleby from a “sell” rating to a “hold” rating and set a $154.00 target price on the stock in a research note on Monday, January 8th. BidaskClub cut Middleby from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Citigroup reduced their target price on Middleby from $132.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th. Susquehanna Bancshares assumed coverage on Middleby in a research note on Wednesday, September 27th. They set a “positive” rating and a $141.00 target price on the stock. Finally, BMO Capital Markets reduced their target price on Middleby from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, November 9th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $138.56.
Middleby (NASDAQ:MIDD) traded up $2.02 during midday trading on Friday, hitting $135.73. The company had a trading volume of 779,495 shares, compared to its average volume of 362,798. The company has a quick ratio of 1.02, a current ratio of 1.93 and a debt-to-equity ratio of 0.72. Middleby has a one year low of $107.53 and a one year high of $150.87. The company has a market capitalization of $7,476.11, a price-to-earnings ratio of 25.56 and a beta of 1.88.
Middleby announced that its board has approved a stock buyback program on Tuesday, November 14th that authorizes the company to repurchase 2,500,000 outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
In other Middleby news, Treasurer Martin M. Lindsay sold 10,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $129.50, for a total value of $1,295,000.00. Following the sale, the treasurer now directly owns 61,726 shares of the company’s stock, valued at $7,993,517. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
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Middleby 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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