News stories about Middleby (NASDAQ:MIDD) have been trending somewhat positive this week, according to Accern. The research firm scores the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Middleby earned a media sentiment score of 0.15 on Accern’s scale. Accern also gave news articles about the industrial products company an impact score of 45.287431357062 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the media stories that may have effected Accern Sentiment Analysis’s rankings:
- Historic Coalbrookdale Aga foundry site up for sale (shropshirestar.com)
- Local manufacturer buys site for $1.3 million (whio.com)
- Food equipment manufacturer buys site for $1.3 million – Dayton Daily News (daytondailynews.com)
- Middleby (MIDD) Downgraded by BidaskClub to Hold (americanbankingnews.com)
- Middleby Corp (MIDD) Receives Consensus Recommendation of “Hold” from Brokerages (americanbankingnews.com)
MIDD has been the topic of a number of recent research reports. Deutsche Bank decreased their price objective on Middleby from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, November 17th. Zacks Investment Research downgraded Middleby from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. BidaskClub raised Middleby from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. BMO Capital Markets reaffirmed a “buy” rating and set a $150.00 target price on shares of Middleby in a research note on Wednesday, November 8th. Finally, Susquehanna Bancshares began coverage on Middleby in a research note on Wednesday, September 27th. They set a “positive” rating and a $141.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $138.56.
Middleby declared that its board has approved a share repurchase plan on Tuesday, November 14th that allows the company to buyback 2,500,000 outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
In other news, Treasurer Martin M. Lindsay sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the transaction, the treasurer now owns 61,726 shares of the company’s stock, valued at $7,993,517. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.00% of the company’s stock.
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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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