The Middleby Corporation (MIDD) Upgraded by Wellington Shields to “Gradually Accumulate”
The Middleby Corporation (NASDAQ:MIDD) was upgraded by analysts at Wellington Shields from a “hold” rating to a “gradually accumulate” rating in a report released on Tuesday.
MIDD has been the subject of several other reports. BidaskClub downgraded The Middleby Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. BMO Capital Markets reiterated a “buy” rating and set a $150.00 target price (down previously from $155.00) on shares of The Middleby Corporation in a report on Friday, June 23rd. Zacks Investment Research cut The Middleby Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Finally, Seaport Global Securities started coverage on The Middleby Corporation in a report on Thursday, June 29th. They set a “neutral” rating and a $128.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $140.50.
The Middleby Corporation (NASDAQ MIDD) traded up 2.13% during mid-day trading on Tuesday, reaching $121.77. The company’s stock had a trading volume of 645,469 shares. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 23.15 and a beta of 1.82. The Middleby Corporation has a 12-month low of $108.45 and a 12-month high of $150.87. The firm’s 50 day moving average price is $128.91 and its 200 day moving average price is $133.91.
The Middleby Corporation (NASDAQ:MIDD) last released its earnings results on Tuesday, May 9th. The industrial products company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.12. The firm had revenue of $530.30 million during the quarter, compared to analysts’ expectations of $542.50 million. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%. On average, equities analysts predict that The Middleby Corporation will post $5.70 earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of MIDD. YorkBridge Wealth Partners LLC increased its position in The Middleby Corporation by 14.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 728 shares of the industrial products company’s stock worth $102,000 after buying an additional 90 shares during the period. Van ECK Associates Corp increased its position in shares of The Middleby Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 780 shares of the industrial products company’s stock worth $106,000 after buying an additional 56 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of The Middleby Corporation during the first quarter worth approximately $125,000. Bronfman E.L. Rothschild L.P. increased its position in shares of The Middleby Corporation by 0.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,029 shares of the industrial products company’s stock worth $140,000 after buying an additional 9 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in shares of The Middleby Corporation during the first quarter worth approximately $149,000. Institutional investors and hedge funds own 95.55% of the company’s stock.
About The Middleby Corporation
The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.
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