BidaskClub Downgrades The Middleby Corporation (MIDD) to Strong Sell
The Middleby Corporation (NASDAQ:MIDD) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.
Several other brokerages also recently issued reports on MIDD. Zacks Investment Research downgraded shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 12th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of The Middleby Corporation in a report on Wednesday, May 17th. Seaport Global Securities began coverage on shares of The Middleby Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $128.00 price target on the stock. Finally, Wellington Shields raised shares of The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $141.67.
The Middleby Corporation (NASDAQ:MIDD) traded up 0.42% during midday trading on Friday, hitting $120.94. 361,034 shares of the stock traded hands. The company’s 50 day moving average is $125.61 and its 200-day moving average is $132.72. The company has a market cap of $6.93 billion, a P/E ratio of 22.65 and a beta of 1.82. The Middleby Corporation has a one year low of $108.45 and a one year high of $150.87.
The Middleby Corporation (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The Middleby Corporation had a net margin of 13.16% and a return on equity of 23.45%. The company had revenue of $579.34 million for the quarter, compared to the consensus estimate of $587.49 million. On average, equities research analysts forecast that The Middleby Corporation will post $5.67 EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake in shares of The Middleby Corporation by 18.7% in the first quarter. Russell Investments Group Ltd. now owns 639,740 shares of the industrial products company’s stock valued at $87,308,000 after buying an additional 100,704 shares during the period. Korea Investment CORP purchased a new position in shares of The Middleby Corporation during the first quarter valued at about $1,023,000. Crestwood Advisors Group LLC purchased a new position in shares of The Middleby Corporation during the first quarter valued at about $150,000. Mn Services Vermogensbeheer B.V. increased its position in shares of The Middleby Corporation by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,535 shares of the industrial products company’s stock valued at $196,000 after buying an additional 46 shares during the last quarter. Finally, Alta Capital Management LLC increased its position in shares of The Middleby Corporation by 1.4% in the first quarter. Alta Capital Management LLC now owns 365,450 shares of the industrial products company’s stock valued at $49,865,000 after buying an additional 4,986 shares during the last quarter. 95.63% of the stock is currently owned by institutional investors.
The Middleby Corporation 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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