The Middleby Corporation (MIDD) Stock Rating Reaffirmed by Citigroup Inc.
The Middleby Corporation (NASDAQ:MIDD)‘s stock had its “neutral” rating reiterated by investment analysts at Citigroup Inc. in a report issued on Thursday. They currently have a $130.00 target price on the industrial products company’s stock. Citigroup Inc.’s price objective suggests a potential upside of 8.44% from the company’s current price.
A number of other research firms have also weighed in on MIDD. BidaskClub lowered shares of The Middleby Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Robert W. Baird cut their target price on shares of The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Friday, August 11th. BMO Capital Markets reissued a “buy” rating and set a $150.00 target price (down previously from $155.00) on shares of The Middleby Corporation in a research report on Friday, June 23rd. Zacks Investment Research lowered shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Wellington Shields raised shares of The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $142.71.
Shares of The Middleby Corporation (NASDAQ MIDD) traded up 0.69% during mid-day trading on Thursday, hitting $119.88. The stock had a trading volume of 213,775 shares. The stock has a market cap of $6.91 billion, a P/E ratio of 22.45 and a beta of 1.81. The Middleby Corporation has a 52 week low of $108.45 and a 52 week high of $150.87. The stock has a 50-day moving average price of $123.27 and a 200 day moving average price of $130.32.
The Middleby Corporation (NASDAQ:MIDD) last released its earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.01. The firm had revenue of $579.34 million during the quarter, compared to analyst estimates of $587.49 million. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. On average, equities analysts forecast that The Middleby Corporation will post $5.61 EPS for the current fiscal year.
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In other news, Director John R. Miller III sold 8,500 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $118.50, for a total transaction of $1,007,250.00. Following the transaction, the director now owns 16,000 shares in the company, valued at approximately $1,896,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
Several large investors have recently bought and sold shares of MIDD. Van ECK Associates Corp increased its holdings in shares of The Middleby Corporation by 7.7% during the 1st quarter. Van ECK Associates Corp now owns 780 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 56 shares during the period. Advisory Services Network LLC bought a new position in shares of The Middleby Corporation during the 1st quarter worth about $125,000. IFP Advisors Inc increased its holdings in shares of The Middleby Corporation by 10.5% during the 2nd quarter. IFP Advisors Inc now owns 1,031 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 98 shares during the period. LS Investment Advisors LLC increased its holdings in shares of The Middleby Corporation by 4.7% during the 2nd quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 48 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in shares of The Middleby Corporation by 9.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,124 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 95 shares during the period. Institutional investors own 95.33% 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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