Wellington Shields lowered shares of Middleby (NASDAQ:MIDD) from a gradually accumulate rating to a hold rating in a report issued on Thursday morning, Briefing.com Automated Import reports.
A number of other brokerages have also recently commented on MIDD. BidaskClub raised Middleby from a sell rating to a hold rating in a research report on Wednesday, October 23rd. Zacks Investment Research raised Middleby from a sell rating to a hold rating and set a $126.00 price target on the stock in a research report on Wednesday, October 23rd. ValuEngine cut Middleby from a hold rating to a sell rating in a research report on Monday, November 4th. Citigroup dropped their price target on Middleby from $138.00 to $125.00 and set a neutral rating on the stock in a research report on Wednesday, August 14th. Finally, Buckingham Research set a $153.00 price target on Middleby and gave the stock a buy rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $141.57.
NASDAQ MIDD traded up $1.43 during trading hours on Thursday, reaching $120.05. 192,300 shares of the stock traded hands, compared to its average volume of 406,974. The stock has a 50 day simple moving average of $116.70 and a two-hundred day simple moving average of $125.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.10 and a quick ratio of 1.01. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 19.68 and a beta of 1.63. Middleby has a 1 year low of $96.65 and a 1 year high of $142.98.
Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.09. The business had revenue of $724.00 million for the quarter, compared to analysts’ expectations of $760.88 million. Middleby had a return on equity of 21.17% and a net margin of 11.27%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.56 EPS. On average, sell-side analysts forecast that Middleby will post 6.56 EPS for the current fiscal year.
In other news, Director Robert A. Nerbonne acquired 455 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $111.21 per share, for a total transaction of $50,600.55. Following the acquisition, the director now directly owns 1,282 shares in the company, valued at $142,571.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.98% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Eminence Capital LP raised its stake in Middleby by 712.8% during the 2nd quarter. Eminence Capital LP now owns 1,274,325 shares of the industrial products company’s stock valued at $172,926,000 after buying an additional 1,117,543 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Middleby during the 2nd quarter valued at $104,031,000. Renaissance Technologies LLC purchased a new stake in Middleby during the 2nd quarter valued at $27,312,000. Wells Fargo & Company MN raised its stake in Middleby by 16.8% during the 2nd quarter. Wells Fargo & Company MN now owns 1,002,522 shares of the industrial products company’s stock valued at $136,041,000 after buying an additional 144,027 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Middleby by 5.4% during the 2nd quarter. Janus Henderson Group PLC now owns 2,559,406 shares of the industrial products company’s stock valued at $347,311,000 after buying an additional 130,433 shares during the last quarter. Institutional investors own 94.74% of the company’s stock.
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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