The Middleby Short Interest Down 24.8% in August (MIDD)
Shares of The Middleby (NASDAQ:MIDD) were the target of a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 768,227 shares, a decline of 24.8% from the July 31st total of 1,022,180 shares, American Banking and Market News reports. Based on an average daily volume of 522,912 shares, the short-interest ratio is currently 1.5 days. Approximately 1.4% of the shares of the company are sold short.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Middleby in a research note on Tuesday. They now have a $91.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The Middleby currently has an average rating of “Hold” and an average target price of $94.89.
The Middleby (NASDAQ:MIDD) opened at 86.70 on Friday. The Middleby has a one year low of $65.17 and a one year high of $102.04. The stock’s 50-day moving average is $80.94 and its 200-day moving average is $83.92. The company has a market cap of $4.965 billion and a P/E ratio of 28.65.
The Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.10. The company had revenue of $424.78 million for the quarter, compared to the consensus estimate of $407.98 million. During the same quarter last year, the company posted $2.00 earnings per share. The Middleby’s revenue was up 16.8% compared to the same quarter last year. On average, analysts predict that The Middleby will post $3.30 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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