Somewhat Positive News Coverage Somewhat Unlikely to Impact The Middleby (MIDD) Share Price
News articles about The Middleby (NASDAQ:MIDD) have trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. The research firm rates the sentiment of press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. The Middleby earned a news sentiment score of 0.17 on Accern’s scale. Accern also gave press coverage about the industrial products company an impact score of 46.8347633177396 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the media headlines that may have effected Accern Sentiment’s scoring:
- Middleby Business Opportunities Solid, Competition a Drag – Nasdaq (nasdaq.com)
- The Middleby Corporation : Acquires Scanico A/S (4-traders.com)
- Why Middleby Rose 10% in November – Motley Fool (fool.com)
- The Middleby Corporation Acquires Scanico A/S | Business Wire – Business Wire (press release) (businesswire.com)
Shares of The Middleby (NASDAQ MIDD) traded up $0.98 during trading hours on Wednesday, hitting $128.51. The stock had a trading volume of 604,587 shares, compared to its average volume of 461,152. The stock has a market capitalization of $6,987.99, a P/E ratio of 23.06 and a beta of 1.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.02 and a current ratio of 1.93. The Middleby has a twelve month low of $107.53 and a twelve month high of $150.87.
The Middleby announced that its Board of Directors has approved a share buyback plan on Tuesday, November 14th that allows the company to repurchase 2,500,000 shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of equities analysts have recently weighed in on the company. Citigroup cut their price target on The Middleby from $132.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, November 10th. Zacks Investment Research raised The Middleby from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Susquehanna Bancshares assumed coverage on The Middleby in a report on Wednesday, September 27th. They issued a “positive” rating and a $141.00 price target for the company. BMO Capital Markets cut their price target on The Middleby from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, November 9th. Finally, Macquarie raised The Middleby from a “neutral” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $137.22.
About The Middleby
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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