Middleby (MIDD) Receiving Somewhat Positive Press Coverage, Study Shows
Press coverage about Middleby (NASDAQ:MIDD) has been trending somewhat positive this week, according to Accern Sentiment. The research firm scores the sentiment of press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Middleby earned a media sentiment score of 0.10 on Accern’s scale. Accern also gave news stories about the industrial products company an impact score of 46.0712817341546 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.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:
- Middleby Corp (MIDD) to Acquire Hinds-Bock Corporation; Terms Not Disclosed (streetinsider.com)
- $649.37 Million in Sales Expected for Middleby Corp (MIDD) This Quarter (americanbankingnews.com)
- Middleby acquires Hinds-Bock Corp. (bakingbusiness.com)
- Middleby acquires Hinds-Bock Corporation to expand in baking – FoodBev.com (foodbev.com)
- Middleby (MIDD) Set to Announce Quarterly Earnings on Monday (americanbankingnews.com)
Several analysts recently issued reports on the stock. Citigroup reduced their price objective on shares of Middleby from $132.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Middleby from a “hold” rating to a “buy” rating and set a $151.00 price objective on the stock in a report on Wednesday, January 17th. BMO Capital Markets reduced their price objective on shares of Middleby from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. BidaskClub lowered shares of Middleby from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Finally, Deutsche Bank reduced their price objective 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. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $139.63.
Middleby declared that its board has authorized a stock repurchase plan on Tuesday, November 14th that permits the company to repurchase 2,500,000 shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Middleby news, Treasurer Martin M. Lindsay sold 10,000 shares of Middleby stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $129.50, for a total value of $1,295,000.00. Following the completion of the transaction, the treasurer now directly owns 61,726 shares of the company’s stock, valued at approximately $7,993,517. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.
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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