The Middleby Corporation (MIDD) Earns Buy Rating from BMO Capital Markets

BMO Capital Markets reiterated their buy rating on shares of The Middleby Corporation (NASDAQ:MIDD) in a report published on Wednesday. The firm currently has a $150.00 price objective on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of The Middleby Corporation from a buy rating to a hold rating in a research note on Wednesday, July 19th. Wellington Shields upgraded shares of The Middleby Corporation from a hold rating to a gradually accumulate rating in a research note on Tuesday, July 11th. Citigroup Inc. restated a neutral rating and issued a $130.00 price target on shares of The Middleby Corporation in a research note on Thursday, September 7th. BidaskClub upgraded shares of The Middleby Corporation from a strong sell rating to a sell rating in a research note on Tuesday, July 25th. Finally, Macquarie upgraded shares of The Middleby Corporation from a neutral rating to an outperform rating and set a $150.00 price target on the stock in a research note on Tuesday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $140.63.

Shares of The Middleby Corporation (NASDAQ MIDD) opened at $109.84 on Wednesday. The stock has a market cap of $6,141.48, a PE ratio of 20.27 and a beta of 1.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.99. The Middleby Corporation has a one year low of $107.68 and a one year high of $150.87.

The Middleby Corporation (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $579.34 million for the quarter, compared to the consensus estimate of $587.49 million. The Middleby Corporation had a net margin of 13.22% and a return on equity of 23.17%. equities analysts predict that The Middleby Corporation will post 5.41 EPS for the current fiscal year.

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In other The Middleby Corporation news, Director John R. Miller III sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $118.50, for a total transaction of $1,007,250.00. Following the completion of the transaction, the director now owns 16,000 shares in the company, valued at approximately $1,896,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gordon Obrien sold 5,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total transaction of $679,896.00. Following the transaction, the director now owns 11,050 shares of the company’s stock, valued at approximately $1,341,580.50. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its position in shares of The Middleby Corporation by 10.5% during the 2nd quarter. IFP Advisors Inc now owns 1,031 shares of the industrial products company’s stock worth $125,000 after buying an additional 98 shares during the period. LS Investment Advisors LLC grew its position in shares of The Middleby Corporation by 4.7% during the 2nd quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock worth $130,000 after buying an additional 48 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in shares of The Middleby Corporation by 9.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,124 shares of the industrial products company’s stock worth $137,000 after buying an additional 95 shares during the period. Fiduciary Trust Co. acquired a new stake in shares of The Middleby Corporation during the 2nd quarter worth approximately $143,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of The Middleby Corporation during the 2nd quarter worth approximately $154,000. Hedge funds and other institutional investors own 94.41% of the company’s stock.

The Middleby Corporation Company Profile

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.

Analyst Recommendations for The Middleby Corporation (NASDAQ:MIDD)

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