The Middleby Corporation (MIDD) Raised to Sell at BidaskClub
BidaskClub upgraded shares of The Middleby Corporation (NASDAQ:MIDD) from a strong sell rating to a sell rating in a research report report published on Tuesday.
Several other research firms have also recently weighed in on MIDD. Zacks Investment Research cut The Middleby Corporation from a buy rating to a hold rating in a report on Friday, May 12th. BMO Capital Markets reiterated an outperform rating and set a $155.00 price objective (down previously from $160.00) on shares of The Middleby Corporation in a report on Wednesday, May 17th. Seaport Global Securities assumed coverage on The Middleby Corporation in a report on Thursday, June 29th. They set a neutral rating and a $128.00 price objective on the stock. Finally, Wellington Shields upgraded 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 given a hold rating and two have issued a buy rating to the stock. The Middleby Corporation presently has an average rating of Hold and a consensus price target of $141.67.
The Middleby Corporation (NASDAQ MIDD) traded down 0.80% on Tuesday, reaching $129.20. 466,770 shares of the company were exchanged. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 24.56 and a beta of 1.81. The stock has a 50-day moving average price of $125.94 and a 200 day moving average price of $133.00. The Middleby Corporation has a 52 week low of $108.45 and a 52 week high of $150.87.
The Middleby Corporation (NASDAQ:MIDD) last released its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.12. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%. The business had revenue of $530.30 million for the quarter, compared to analysts’ expectations of $542.50 million. Analysts forecast that The Middleby Corporation will post $5.67 earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in The Middleby Corporation by 4,935.7% in the first quarter. BlackRock Inc. now owns 2,631,922 shares of the industrial products company’s stock valued at $359,127,000 after buying an additional 2,579,657 shares during the last quarter. CI Global Investments Inc. boosted its stake in The Middleby Corporation by 80.0% in the first quarter. CI Global Investments Inc. now owns 1,332,293 shares of the industrial products company’s stock valued at $181,791,000 after buying an additional 592,293 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in The Middleby Corporation by 719.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 350,362 shares of the industrial products company’s stock valued at $45,130,000 after buying an additional 307,631 shares during the last quarter. Norges Bank purchased a new stake in The Middleby Corporation during the fourth quarter valued at approximately $35,924,000. Finally, Vanguard Group Inc. boosted its stake in The Middleby Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 4,487,263 shares of the industrial products company’s stock valued at $612,288,000 after buying an additional 171,612 shares during the last quarter. Hedge funds and other institutional investors own 95.57% of the company’s stock.
About The Middleby Corporation
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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