Middleby (NASDAQ:MIDD) Lowered to Sell at BidaskClub

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BidaskClub lowered shares of Middleby (NASDAQ:MIDD) from a hold rating to a sell rating in a report released on Thursday morning, BidAskClub reports.

Several other equities analysts also recently issued reports on MIDD. Wellington Shields downgraded Middleby from a gradually accumulate rating to a hold rating in a research report on Thursday, November 7th. Zacks Investment Research upgraded Middleby from a sell rating to a hold rating and set a $126.00 price objective for the company in a research report on Wednesday, October 23rd. Finally, ValuEngine upgraded Middleby from a sell rating to a hold rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Middleby currently has an average rating of Hold and a consensus price target of $141.50.

Shares of MIDD opened at $110.63 on Thursday. The stock has a fifty day moving average price of $111.91 and a two-hundred day moving average price of $113.81. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.00 and a current ratio of 2.05. Middleby has a 52-week low of $105.77 and a 52-week high of $142.98. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 18.23 and a beta of 1.57.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIDD. Capital World Investors increased its stake in shares of Middleby by 28.9% in the 4th quarter. Capital World Investors now owns 1,610,758 shares of the industrial products company’s stock valued at $176,410,000 after buying an additional 360,679 shares during the period. Fiera Capital Corp grew its stake in shares of Middleby by 11.3% during the fourth quarter. Fiera Capital Corp now owns 3,363,218 shares of the industrial products company’s stock worth $368,340,000 after purchasing an additional 340,141 shares during the period. Pictet Asset Management Ltd. grew its stake in shares of Middleby by 25.0% during the third quarter. Pictet Asset Management Ltd. now owns 442,577 shares of the industrial products company’s stock worth $51,737,000 after purchasing an additional 88,517 shares during the period. Marshall Wace North America L.P. grew its stake in shares of Middleby by 2,214.8% during the fourth quarter. Marshall Wace North America L.P. now owns 77,963 shares of the industrial products company’s stock worth $8,537,000 after purchasing an additional 74,595 shares during the period. Finally, GW&K Investment Management LLC grew its stake in shares of Middleby by 47.3% during the third quarter. GW&K Investment Management LLC now owns 206,751 shares of the industrial products company’s stock worth $24,169,000 after purchasing an additional 66,351 shares during the period. 84.46% of the stock is owned by institutional investors.

Middleby Company Profile

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Analyst Recommendations for Middleby (NASDAQ:MIDD)

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