Middleby Corp. Reaches New 12-Month High at $255.88 (MIDD)
Middleby Corp. (NASDAQ:MIDD)’s share price reached a new 52-week high during trading hours on Tuesday, American Banking News.com reports. The company traded as high as $255.88 and last traded at $254.66, with a volume of 60,889 shares traded. The stock had previously closed at $251.88.
A number of research firms have recently commented on MIDD. Analysts at Zacks reiterated an “outperform” rating on shares of Middleby Corp. in a research note to investors on Friday, November 29th. They now have a $264.00 price target on the stock. Separately, analysts at BWS Financial initiated coverage on shares of Middleby Corp. in a research note to investors on Friday, November 15th. They set a “sell” rating and a $160.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Middleby Corp. from $202.00 to $230.00 in a research note to investors on Thursday, November 7th. They now have a “sector perform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $204.50.
Middleby Corp. has a 1-year low of $130.25 and a 1-year high of $253.97. The stock’s 50-day moving average is $227.1 and its 200-day moving average is $206.5. The company has a market cap of $4.862 billion and a P/E ratio of 33.16.
Middleby Corp. (NASDAQ:MIDD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.21. The company had revenue of $360.01 million for the quarter, compared to the consensus estimate of $348.65 million. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was up 39.7% on a year-over-year basis. On average, analysts predict that Middleby Corp. will post $7.99 earnings per share 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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