Somewhat Positive News Coverage Somewhat Unlikely to Affect Middleby (MIDD) Share Price
News headlines about Middleby (NASDAQ:MIDD) have trended somewhat positive on Monday, Accern Sentiment Analysis reports. Accern rates the sentiment of press coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Middleby earned a media sentiment score of 0.13 on Accern’s scale. Accern also assigned media headlines about the industrial products company an impact score of 45.3888243028054 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Middleby (NASDAQ:MIDD) traded up $1.00 during trading on Monday, hitting $132.04. 502,387 shares of the stock traded hands, compared to its average volume of 462,396. The company has a market capitalization of $7,440.00, a price-to-earnings ratio of 24.82 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 fifty-two week low of $107.53 and a fifty-two week high of $150.87.
Middleby declared that its board has approved a stock repurchase program on Tuesday, November 14th that permits the company to buyback 2,500,000 shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
MIDD has been the topic of a number of research reports. Citigroup reissued a “neutral” rating and set a $130.00 target price on shares of Middleby in a report on Thursday, September 7th. Zacks Investment Research cut shares of Middleby from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Susquehanna Bancshares initiated coverage on shares of Middleby in a report on Wednesday, September 27th. They set a “positive” rating and a $141.00 target price on the stock. BMO Capital Markets reissued a “buy” rating and set a $150.00 target price on shares of Middleby in a report on Wednesday, November 8th. Finally, Deutsche Bank dropped their target price on shares of Middleby from $120.00 to $110.00 and set a “hold” rating on the stock in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $137.22.
In other news, Treasurer Martin M. Lindsay sold 10,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the completion of the transaction, the treasurer now owns 61,726 shares in the company, valued at $7,993,517. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Middleby Company Profile
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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