Middleby (NASDAQ:MIDD) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.
MIDD has been the topic of a number of other reports. Deutsche Bank cut their target price on Middleby from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, November 17th. BMO Capital Markets reiterated a “buy” rating and set a $150.00 price target on shares of Middleby in a report on Wednesday, November 8th. Zacks Investment Research upgraded Middleby from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Citigroup reiterated a “neutral” rating and set a $130.00 price target on shares of Middleby in a report on Thursday, September 7th. Finally, Susquehanna Bancshares started coverage on Middleby in a report on Wednesday, September 27th. They set a “positive” rating and a $141.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Middleby has an average rating of “Hold” and a consensus target price of $137.22.
Shares of Middleby (NASDAQ:MIDD) traded up $0.62 during trading on Friday, hitting $136.29. The stock had a trading volume of 317,600 shares, compared to its average volume of 550,490. The firm has a market capitalization of $7,620.00, a price-to-earnings ratio of 25.62 and a beta of 1.88. The company has a quick ratio of 1.02, a current ratio of 1.93 and a debt-to-equity ratio of 0.72. Middleby has a 12 month low of $107.53 and a 12 month high of $150.87.
In other news, Treasurer Martin M. Lindsay sold 10,000 shares of Middleby stock in a transaction on Friday, December 15th. The stock was sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the transaction, the treasurer now owns 61,726 shares in the company, valued at $7,993,517. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. grew its stake in Middleby by 9.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,124 shares of the industrial products company’s stock valued at $137,000 after purchasing an additional 95 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Middleby in the second quarter valued at about $143,000. Cubist Systematic Strategies LLC purchased a new position in Middleby in the second quarter valued at about $154,000. Zions Bancorporation purchased a new position in Middleby in the third quarter valued at about $198,000. Finally, Fulton Bank N.A. purchased a new position in Middleby in the third quarter valued at about $209,000. Hedge funds and other institutional investors own 99.08% of the company’s stock.
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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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