The Middleby Corporation (NASDAQ:MIDD) had its price objective cut by Citigroup Inc. from $132.00 to $120.00 in a research note issued to investors on Friday morning. They currently have a neutral rating on the industrial products company’s stock.
MIDD has been the subject of a number of other reports. Macquarie upgraded shares of The Middleby Corporation from a neutral rating to an outperform rating and set a $150.00 target price for the company in a research note on Tuesday, August 15th. BMO Capital Markets reiterated a buy rating and set a $150.00 target price on shares of The Middleby Corporation in a research note on Friday, August 11th. BidaskClub upgraded shares of The Middleby Corporation from a strong sell rating to a sell rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of The Middleby Corporation from a sell rating to a hold rating in a research note on Tuesday, October 17th. Finally, Robert W. Baird decreased their target price on shares of The Middleby Corporation from $145.00 to $142.00 and set an outperform rating for the company in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $140.63.
Shares of The Middleby Corporation (NASDAQ MIDD) traded down $0.68 on Friday, reaching $109.16. 763,600 shares of the company’s stock were exchanged, compared to its average volume of 441,927. The stock has a market cap of $6,141.47, a price-to-earnings 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 1-year low of $107.68 and a 1-year high of $150.87.
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In related news, Director Gordon Obrien sold 5,600 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $121.41, for a total value of $679,896.00. Following the completion of the transaction, the director now owns 11,050 shares of the company’s stock, valued at approximately $1,341,580.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John R. Miller III sold 8,500 shares of the company’s stock in a transaction on Monday, August 28th. The stock was 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 directly owns 16,000 shares of the company’s stock, valued at approximately $1,896,000. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of MIDD. IFP Advisors Inc boosted its holdings in The Middleby Corporation by 10.5% in 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 boosted its holdings in The Middleby Corporation by 4.7% in 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. boosted its holdings in The Middleby Corporation by 9.2% in 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. bought a new position in The Middleby Corporation in the 2nd quarter worth $143,000. Finally, Cubist Systematic Strategies LLC bought a new position in The Middleby Corporation in the 2nd quarter worth $154,000. 95.03% of the stock is owned by institutional investors.
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.
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