Somewhat Positive Media Coverage Somewhat Unlikely to Affect The Middleby Corporation (MIDD) Share Price
Media headlines about The Middleby Corporation (NASDAQ:MIDD) have trended somewhat positive this week, Accern reports. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. The Middleby Corporation earned a news impact score of 0.21 on Accern’s scale. Accern also assigned headlines about the industrial products company an impact score of 45.7815866788841 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Zacks Investment Research Lowers The Middleby Corporation (MIDD) to Sell (americanbankingnews.com)
- New report shares details about the Global foodservice equipment market set to surge significantly by 2021 (whatech.com)
- Meat Processing Equipment Market 2017: Software Study, Demand, Differentiation & Applications (sbwire.com)
- The Middleby Corporation (MIDD) Director Gordon Obrien Sells 5,600 Shares (americanbankingnews.com)
- Chowbotics Names Cudia VP of Engineering (fesmag.com)
The Middleby Corporation (NASDAQ MIDD) traded up 0.32% on Tuesday, hitting $121.77. 278,018 shares of the stock traded hands. The stock has a market capitalization of $7.02 billion, a P/E ratio of 22.81 and a beta of 1.81. The Middleby Corporation has a 12-month low of $108.45 and a 12-month high of $150.87. The company’s 50 day moving average price is $121.60 and its 200-day moving average price is $129.31.
The Middleby Corporation (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $579.34 million during the quarter, compared to analysts’ expectations of $587.49 million. The Middleby Corporation had a return on equity of 23.05% and a net margin of 13.38%. Analysts predict that The Middleby Corporation will post $5.61 EPS for the current year.
Several brokerages have recently issued reports on MIDD. BidaskClub raised shares of The Middleby Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a research note on Tuesday, July 18th. Seaport Global Securities began coverage on shares of The Middleby Corporation in a research note on Thursday, June 29th. They issued a “neutral” rating and a $128.00 price objective on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $150.00 price objective (down previously from $155.00) on shares of The Middleby Corporation in a research note on Friday, June 23rd. Finally, Robert W. Baird lowered their price objective on shares of The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $142.71.
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In other news, Director John R. Miller III sold 8,500 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $118.50, for a total value of $1,007,250.00. Following the completion of the sale, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $1,896,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gordon Obrien sold 5,600 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $121.41, for a total value of $679,896.00. Following the completion of the sale, the director now directly owns 11,050 shares of the company’s stock, valued at $1,341,580.50. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
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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