The Middleby Corporation (NASDAQ:MIDD) – Equities research analysts at KeyCorp boosted their Q4 2017 EPS estimates for The Middleby Corporation in a research note issued on Sunday. KeyCorp analyst J. Picariello now expects that the industrial products company will post earnings per share of $1.51 for the quarter, up from their prior estimate of $1.50.

The Middleby Corporation (NASDAQ:MIDD) last released its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. The company had revenue of $579.34 million during the quarter, compared to analyst estimates of $587.49 million.

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A number of other research firms also recently commented on MIDD. BidaskClub upgraded The Middleby Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research report on Tuesday, July 18th. Seaport Global Securities initiated coverage on The Middleby Corporation in a research report on Thursday, June 29th. They set a “neutral” rating and a $128.00 target price for the company. Susquehanna Bancshares Inc initiated coverage on The Middleby Corporation in a research report on Wednesday, September 27th. They issued a “positive” rating and a $141.00 price target for the company. Finally, BMO Capital Markets restated a “buy” rating and issued a $150.00 price target (down from $155.00) on shares of The Middleby Corporation in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The Middleby Corporation presently has a consensus rating of “Hold” and a consensus price target of $142.50.

Shares of The Middleby Corporation (NASDAQ MIDD) traded down 0.625% during midday trading on Wednesday, reaching $120.045. 69,465 shares of the company’s stock traded hands. The firm has a market capitalization of $6.92 billion, a PE ratio of 22.485 and a beta of 1.82. The stock’s 50-day moving average price is $123.18 and its 200 day moving average price is $127.68. The Middleby Corporation has a one year low of $108.45 and a one year high of $150.87.

In other news, Director John R. Miller III sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $118.50, for a total value of $1,007,250.00. Following the completion of the sale, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $1,896,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gordon Obrien sold 5,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $121.41, for a total value of $679,896.00. Following the completion of the sale, the director now directly owns 11,050 shares of the company’s stock, valued at $1,341,580.50. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in MIDD. World Asset Management Inc grew its position in shares of The Middleby Corporation by 1.1% in the second quarter. World Asset Management Inc now owns 2,591 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 27 shares during the period. 1st Global Advisors Inc. boosted its holdings in The Middleby Corporation by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 5,979 shares of the industrial products company’s stock valued at $727,000 after acquiring an additional 34 shares during the last quarter. Honkamp Krueger Financial Services Inc. boosted its holdings in The Middleby Corporation by 0.7% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 5,396 shares of the industrial products company’s stock valued at $656,000 after acquiring an additional 35 shares during the last quarter. Albion Financial Group UT boosted its holdings in The Middleby Corporation by 1.3% in the second quarter. Albion Financial Group UT now owns 3,179 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 40 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its holdings in The Middleby Corporation by 4.7% in the second quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 48 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

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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