Middleby Corp. Sets New 1-Year High at $212.83 (MIDD)
Middleby Corp. (NASDAQ:MIDD)’s share price reached a new 52-week high on Wednesday, American Banking News reports. The company traded as high as $212.83 and last traded at $211.79, with a volume of 125,382 shares traded. The stock had previously closed at $207.67.
A number of research firms have recently commented on MIDD. Analysts at Zacks reiterated a “neutral” rating on shares of Middleby Corp. (NASDAQ:MIDD) in a research note to investors on Friday, September 6th. They now have a $206.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Middleby Corp. (NASDAQ:MIDD) from $171.00 to $202.00 in a research note to investors on Tuesday, August 13th. They now have a “sector perform” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Middleby Corp. (NASDAQ:MIDD) from $165.00 to $175.00 in a research note to investors on Tuesday, August 13th. They now have a “market perform” rating on the stock.
Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Middleby Corp. has a consensus rating of “Hold” and an average price target of $192.40.
In other Middleby Corp. news, CFO Timothy John Fitzgerald sold 61,399 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $193.52, for a total transaction of $11,881,934.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Middleby Corp. has a one year low of $113.95 and a one year high of $212.83. The stock has a 50-day moving average of $190.5 and a 200-day moving average of $167.. The company has a market cap of $4.038 billion and a price-to-earnings ratio of 29.64.
Middleby Corp. (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, August 8th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.22. The company had revenue of $363.80 million for the quarter, compared to the consensus estimate of $349.92 million. During the same quarter in the previous year, the company posted $1.67 earnings per share. The company’s revenue for the quarter was up 39.9% on a year-over-year basis. Analysts expect that Middleby Corp. will post $7.93 EPS for the current fiscal year.
The Middleby Corporation (NASDAQ:MIDD) through its operating subsidiary Middleby Marshall Inc (Middleby Marshall) and its subsidiaries, is engaged in the design, manufacture, marketing, distribution, and service of a line of cooking and warming equipment used in all types of commercial restaurants and institutional kitchens, and food preparation, cooking and packaging equipment for food processing operations.
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