The Middleby Trading Down 7.2% on Disappointing Earnings (MIDD)
The Middleby (NASDAQ:MIDD) shares traded down 7.2% during mid-day trading on Friday following a dissappointing earnings announcement, Stock Ratings Network.com reports. The stock traded as low as $228.91 and last traded at $232.53, with a volume of 189,493 shares. The stock had previously closed at $250.47.
The company reported $1.78 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.07 by $0.29.
A number of analysts have recently weighed in on MIDD shares. Analysts at Zacks reiterated an “outperform” rating on shares of The Middleby in a research note on Friday, March 7th. They now have a $344.00 price target on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of The Middleby from $194.00 to $275.00 in a research note on Thursday, February 27th. Finally, analysts at Robert W. Baird raised their price target on shares of The Middleby from $275.00 to $320.00 in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $279.83.
The stock has a 50-day moving average of $259. and a 200-day moving average of $247.4. The company has a market cap of $4.402 billion and a price-to-earnings ratio of 30.51.
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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