Brokerages Set Middleby Corp (NASDAQ:MIDD) Target Price at $141.57
Shares of Middleby Corp (NASDAQ:MIDD) have earned an average rating of “Hold” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $141.57.
A number of equities research analysts recently commented on the company. ValuEngine lowered Middleby from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Buckingham Research set a $153.00 price target on Middleby and gave the stock a “buy” rating in a research report on Wednesday, August 7th. TheStreet lowered Middleby from a “b-” rating to a “c” rating in a research report on Thursday, August 29th. Zacks Investment Research upgraded Middleby from a “sell” rating to a “hold” rating and set a $126.00 price target on the stock in a research report on Wednesday, October 23rd. Finally, Citigroup decreased their price target on Middleby from $138.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th.
In other Middleby news, Director Robert A. Nerbonne purchased 420 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $120.24 per share, for a total transaction of $50,500.80. Following the transaction, the director now directly owns 1,282 shares in the company, valued at $154,147.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.98% of the stock is owned by corporate insiders.
Shares of MIDD stock traded down $0.81 during trading hours on Monday, hitting $118.24. The company had a trading volume of 209,300 shares, compared to its average volume of 403,051. Middleby has a 12 month low of $96.65 and a 12 month high of $142.98. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 19.38 and a beta of 1.63. The firm’s fifty day moving average is $117.05 and its 200 day moving average is $125.18. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.00 and a current ratio of 2.05.
Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. The company had revenue of $724.00 million for the quarter, compared to analyst estimates of $760.88 million. Middleby had a return on equity of 20.81% and a net margin of 11.55%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.56 EPS. On average, sell-side analysts expect that Middleby will post 6.75 EPS for the current fiscal year.
Middleby Company Profile
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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