Several brokerages have updated their recommendations and price targets on shares of Middleby (NASDAQ: MIDD) in the last few weeks:
- 3/13/2018 – Middleby was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
- 3/7/2018 – Middleby was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 3/7/2018 – Middleby had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $160.00 price target on the stock, up previously from $145.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
- 3/5/2018 – Middleby had its price target lowered by analysts at Citigroup from $150.00 to $132.00. They now have a “neutral” rating on the stock.
- 3/2/2018 – Middleby was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $135.00 price target on the stock. According to Zacks, “Middleby’s adjusted earnings for fourth-quarter 2017 came in at $1.48 per share, in line with the Zacks Consensus Estimate. However, both the top and bottom line improved on a year-over-year basis. Middleby perceives that increased demand from chain restaurant customers, robust pipeline of projects and rise in order rates would drive its near-term revenues. Moving ahead, acquisitions are likely to continue boosting revenues and profitability of the company. Additionally, ongoing distribution changes, new tax law and improved top-line performance are anticipated to increase the company’s earnings in the quarters ahead. However, in the last three months, shares of the company have underperformed the industry on margin and market share loss risks.”
- 3/1/2018 – Middleby was downgraded by analysts at Wellington Shields from an “accumulate” rating to a “hold” rating.
- 3/1/2018 – Middleby was given a new $149.00 price target on by analysts at Susquehanna Bancshares Inc. They now have a “buy” rating on the stock.
- 2/24/2018 – Middleby was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 2/22/2018 – Middleby was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $149.00 price target on the stock. According to Zacks, “Over the last three months, Middleby’s shares have outperformed the industry. The company believes its production expansion moves and efforts taken to upgrade the existing manufacturing facilities will bolster revenues in the quarters ahead. Moreover, the recent acquisitions are also anticipated to drive revenues and profitability. Also, the new investments made by Middleby to strengthen its existing product portfolio are also likely to benefit near-term results. The company’s robust marketing and distribution network also will likely aid in strengthening its top-line growth trajectory. Over the last 60 days, Zacks Consensus Estimate for the stock has moved north for 2018.”
- 1/30/2018 – Middleby had its price target raised by analysts at Citigroup from $120.00 to $150.00. They now have a “neutral” rating on the stock.
- 1/24/2018 – Middleby was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the last three months, Middleby's shares outperformed the industry. The company reported mixed results for third-quarter 2017. Quarterly earnings missed the Zacks Consensus Estimate by 3.5%, but revenues surpassed the same by 0.9%. The company expects that higher revenues generated from the latest business acquisitions, new product portfolio solidification investments and business expansion in new emerging markets will strengthen results in the quarters ahead. Over the last 60 days, Zacks Consensus Estimate for the stock has moved north for 2018. However, lower sales of the AGA Group business might continue to hurt performance of the company's Residential Kitchen Equipment segment. Moreover, cost associated with ongoing acquisition integration initiatives and restructuring moves might dent profitability. Heightening industry rivalry is also another cause of concern.”
Middleby stock traded down $1.58 during trading hours on Monday, reaching $128.41. 698,159 shares of the company traded hands, compared to its average volume of 575,820. Middleby Corp has a 1-year low of $107.53 and a 1-year high of $142.00. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.97 and a quick ratio of 1.07. The company has a market capitalization of $7,244.42, a price-to-earnings ratio of 24.46 and a beta of 1.83.
Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $1.48 EPS for the quarter, hitting the consensus estimate of $1.48. Middleby had a net margin of 12.77% and a return on equity of 22.98%. The business had revenue of $632.86 million for the quarter, compared to analyst estimates of $646.83 million. analysts anticipate that Middleby Corp will post 6.49 earnings per share for the current year.
In other news, Director Nassem Ziyad bought 1,000 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were purchased at an average price of $111.00 per share, for a total transaction of $111,000.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $222,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.
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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