The Middleby Corp. (NASDAQ:MIDD) Given Average Rating of “Buy” by Analysts
Shares of The Middleby Corp. (NASDAQ:MIDD) have earned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $126.00.
A number of brokerages have recently commented on MIDD. Zacks Investment Research upgraded shares of The Middleby Corp. from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, August 16th. Deutsche Bank AG initiated coverage on shares of The Middleby Corp. in a report on Tuesday, September 6th. They set a “hold” rating and a $123.00 price target on the stock. Finally, Wellington Shields upgraded shares of The Middleby Corp. from a “hold” rating to an “accumulate” rating in a report on Friday, September 9th.
Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of The Middleby Corp. during the fourth quarter valued at $48,684,000. GW&K Investment Management LLC raised its position in shares of The Middleby Corp. by 10.0% in the first quarter. GW&K Investment Management LLC now owns 250,494 shares of the company’s stock valued at $26,745,000 after buying an additional 22,699 shares in the last quarter. Apex Capital Management raised its position in shares of The Middleby Corp. by 1.1% in the first quarter. Apex Capital Management now owns 493,870 shares of the company’s stock valued at $52,730,000 after buying an additional 5,498 shares in the last quarter. Aperio Group LLC raised its position in shares of The Middleby Corp. by 16.2% in the first quarter. Aperio Group LLC now owns 11,961 shares of the company’s stock valued at $1,277,000 after buying an additional 1,666 shares in the last quarter. Finally, Buffington Mohr McNeal raised its position in shares of The Middleby Corp. by 54.3% in the first quarter. Buffington Mohr McNeal now owns 4,165 shares of the company’s stock valued at $444,000 after buying an additional 1,465 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.
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The Middleby Corp. (NASDAQ:MIDD) traded up 1.22% during mid-day trading on Monday, hitting $124.38. The company’s stock had a trading volume of 200,633 shares. The Middleby Corp. has a 52-week low of $79.11 and a 52-week high of $140.98. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 31.33 and a beta of 1.48. The firm has a 50 day moving average of $125.36 and a 200-day moving average of $115.42.
The Middleby Corp. (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. The Middleby Corp. had a net margin of 10.89% and a return on equity of 20.50%. On average, equities research analysts expect that The Middleby Corp. will post $4.80 EPS for the current fiscal year.
About The Middleby Corp.
The Middleby Corporation (Middleby) 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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