Shares of Middleby Corp (NASDAQ:MIDD) have been given an average recommendation of “Buy” by the eleven ratings firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $140.43.
Several research firms have recently issued reports on MIDD. Buckingham Research set a $153.00 target price on Middleby and gave the company a “buy” rating in a research note on Wednesday, August 7th. Citigroup reduced their target price on Middleby from $138.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. TheStreet cut Middleby from a “b-” rating to a “c” rating in a research note on Thursday, August 29th. ValuEngine cut Middleby from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BidaskClub raised Middleby from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th.
In other news, Director Robert A. Nerbonne purchased 450 shares of Middleby stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $113.85 per share, with a total value of $51,232.50. Following the completion of the purchase, the director now directly owns 1,282 shares in the company, valued at $145,955.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert A. Nerbonne purchased 455 shares of Middleby stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $111.21 per share, for a total transaction of $50,600.55. Following the completion of the purchase, the director now owns 1,282 shares of the company’s stock, valued at $142,571.22. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.
Shares of MIDD traded up $2.13 during mid-day trading on Friday, hitting $116.97. 3,014 shares of the company’s stock traded hands, compared to its average volume of 265,885. The company has a quick ratio of 1.01, a current ratio of 2.10 and a debt-to-equity ratio of 1.11. Middleby has a 1 year low of $96.65 and a 1 year high of $142.98. The firm has a market capitalization of $6.42 billion, a P/E ratio of 18.92 and a beta of 1.60. The business’s 50-day moving average price is $113.59 and its 200-day moving average price is $128.73.
Middleby (NASDAQ:MIDD) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.07). Middleby had a net margin of 11.27% and a return on equity of 21.17%. The business had revenue of $761.00 million for the quarter, compared to analysts’ expectations of $774.13 million. During the same period last year, the firm posted $1.63 earnings per share. Middleby’s quarterly revenue was up 13.9% on a year-over-year basis. Sell-side analysts anticipate that Middleby will post 6.58 earnings per share for the current fiscal year.
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.
Featured Article: What Are Cryptocurrencies?
Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.