Middleby Corp. COO Sells $612,750 in Stock (MIDD)
Middleby Corp. (NASDAQ:MIDD) COO David Brewer sold 3,000 shares of the stock on the open market in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $204.25, for a total transaction of $612,750.00. Following the completion of the sale, the chief operating officer now directly owns 8,890 shares in the company. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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 stock. The stock presently has an average rating of “Hold” and an average target price of $192.40.
Middleby Corp. (NASDAQ:MIDD) traded down 0.73% during mid-day trading on Friday, hitting $205.57. The stock had a trading volume of 92,949 shares. Middleby Corp. has a 1-year low of $113.95 and a 1-year high of $213.50. The stock’s 50-day moving average is $191. and its 200-day moving average is $167.5. The company has a market cap of $3.927 billion and a price-to-earnings ratio of 29.55.
Middleby Corp. (NASDAQ:MIDD) last announced its earnings results on Thursday, August 8th. The company reported $2.00 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.67 earnings per share. Middleby Corp.’s revenue was up 39.9% compared to the same quarter last 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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