The Middleby Corporation (NASDAQ:MIDD) – Stock analysts at KeyCorp reduced their FY2017 earnings per share (EPS) estimates for shares of The Middleby Corporation in a report issued on Monday. KeyCorp analyst J. Picariello now forecasts that the industrial products company will earn $5.65 per share for the year, down from their prior forecast of $5.85. KeyCorp also issued estimates for The Middleby Corporation’s Q4 2017 earnings at $1.54 EPS.

The Middleby Corporation (NASDAQ:MIDD) last issued its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. The business had revenue of $530.30 million for the quarter, compared to the consensus estimate of $542.50 million. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%.

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A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. Wellington Shields upgraded shares of The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. Seaport Global Securities began coverage on shares of The Middleby Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $128.00 price objective on the stock. BMO Capital Markets restated a “buy” rating and issued a $150.00 price objective (down from $155.00) on shares of The Middleby Corporation in a report on Friday, June 23rd. Finally, BidaskClub lowered shares of The Middleby Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $141.67.

The Middleby Corporation (NASDAQ:MIDD) opened at 128.52 on Thursday. The Middleby Corporation has a 12 month low of $108.45 and a 12 month high of $150.87. The firm has a market capitalization of $7.39 billion, a P/E ratio of 24.43 and a beta of 1.81. The stock’s 50 day moving average price is $126.20 and its 200-day moving average price is $133.04.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in The Middleby Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 4,487,263 shares of the industrial products company’s stock worth $612,288,000 after buying an additional 171,612 shares in the last quarter. BlackRock Inc. raised its position in The Middleby Corporation by 4,935.7% in the first quarter. BlackRock Inc. now owns 2,631,922 shares of the industrial products company’s stock worth $359,127,000 after buying an additional 2,579,657 shares in the last quarter. CI Global Investments Inc. raised its position in The Middleby Corporation by 80.0% in the first quarter. CI Global Investments Inc. now owns 1,332,293 shares of the industrial products company’s stock worth $181,791,000 after buying an additional 592,293 shares in the last quarter. State Street Corp raised its position in The Middleby Corporation by 2.9% in the first quarter. State Street Corp now owns 1,011,387 shares of the industrial products company’s stock worth $138,007,000 after buying an additional 28,581 shares in the last quarter. Finally, Janus Capital Management LLC raised its position in The Middleby Corporation by 1.9% in the first quarter. Janus Capital Management LLC now owns 743,905 shares of the industrial products company’s stock worth $101,506,000 after buying an additional 13,533 shares in the last quarter. Institutional investors own 95.53% 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.

Earnings History and Estimates for The Middleby Corporation (NASDAQ:MIDD)

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