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The Middleby (NASDAQ:MIDD)’s stock is set to split on the morning of Friday, June 27th, ARN reports. The 3-1 split was announced on Friday, May 30th. The newly created shares will be issued to shareholders after the market closes on Thursday, June 26th.

Shares of The Middleby (NASDAQ:MIDD) traded down 0.04% on Thursday, hitting $246.70. 14,312 shares of the company’s stock traded hands. The Middleby has a 52-week low of $160.45 and a 52-week high of $306.12. The stock’s 50-day moving average is $242.8 and its 200-day moving average is $250.3. The company has a market cap of $4.709 billion and a P/E ratio of 28.72.

The Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.78 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.07 by $0.29. On average, analysts predict that The Middleby will post $9.48 earnings per share for the current fiscal year.

Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of The Middleby from an “outperform” rating to a “neutral” rating in a research note on Friday, June 6th. They now have a $262.00 price target on the stock. Separately, analysts at BB&T Corp. upgraded shares of The Middleby from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. They now have a $260.00 price target on the stock. Finally, analysts at BWS Financial reiterated a “sell” rating on shares of The Middleby in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $282.83.

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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