Several other equities research analysts have also recently weighed in on MIDD. Zacks Investment Research raised Middleby from a sell rating to a hold rating and set a $118.00 price objective on the stock in a research note on Wednesday, August 14th. TheStreet cut Middleby from a b- rating to a c rating in a research note on Thursday, August 29th. ValuEngine cut Middleby from a buy rating to a hold rating in a research note on Thursday, August 1st. Citigroup reduced their price objective on Middleby from $138.00 to $125.00 and set a neutral rating on the stock in a research note on Wednesday, August 14th. Finally, Buckingham Research set a $153.00 price objective on Middleby and gave the stock a buy rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $140.43.
Shares of MIDD stock opened at $115.33 on Thursday. Middleby has a 12-month low of $96.65 and a 12-month high of $142.98. The company has a current ratio of 2.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.11. The stock’s 50-day moving average price is $114.75 and its 200-day moving average price is $128.89. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 18.91 and a beta of 1.60.
Middleby (NASDAQ:MIDD) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.07). Middleby had a return on equity of 21.17% and a net margin of 11.27%. The firm had revenue of $761.00 million during the quarter, compared to the consensus estimate of $774.13 million. During the same period last year, the firm posted $1.63 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, research analysts predict that Middleby will post 6.58 EPS for the current fiscal year.
In related news, Director Robert A. Nerbonne acquired 455 shares of Middleby stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $111.21 per share, with a total value of $50,600.55. Following the completion of the purchase, the director now directly owns 1,282 shares of the company’s stock, valued at approximately $142,571.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Nerbonne acquired 450 shares of Middleby stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $113.85 per share, for a total transaction of $51,232.50. Following the completion of the purchase, the director now directly owns 1,282 shares of the company’s stock, valued at $145,955.70. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.
Several large investors have recently made changes to their positions in MIDD. Icon Wealth Partners LLC purchased a new position in shares of Middleby during the first quarter valued at approximately $33,000. Quantamental Technologies LLC purchased a new position in shares of Middleby during the second quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Middleby during the second quarter valued at approximately $66,000. Crewe Advisors LLC boosted its position in shares of Middleby by 2,985.7% during the first quarter. Crewe Advisors LLC now owns 648 shares of the industrial products company’s stock valued at $84,000 after buying an additional 627 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Middleby by 175.0% during the second quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the industrial products company’s stock valued at $149,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 95.25% of the company’s stock.
Middleby Company Profile
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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