Middleby (NASDAQ:MIDD) Lowered to “Hold” at Wellington Shields

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Middleby (NASDAQ:MIDD) was downgraded by research analysts at Wellington Shields from a “gradually accumulate” rating to a “hold” rating in a note issued to investors on Thursday, Briefing.com Automated Import reports.

Other research analysts have also issued reports about the stock. BidaskClub raised shares of Middleby from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. ValuEngine lowered shares of Middleby from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. TheStreet lowered shares of Middleby from a “b-” rating to a “c” rating in a research note on Thursday, August 29th. Zacks Investment Research raised shares of Middleby from a “sell” rating to a “hold” rating and set a $126.00 price target on the stock in a research note on Wednesday, October 23rd. Finally, Buckingham Research set a $153.00 price target on shares of Middleby and gave the company a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $141.57.

MIDD traded up $1.43 during midday trading on Thursday, hitting $120.05. 192,300 shares of the company were exchanged, compared to its average volume of 406,974. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 19.68 and a beta of 1.63. Middleby has a 1-year low of $96.65 and a 1-year high of $142.98. The company’s 50 day simple moving average is $116.70 and its 200 day simple moving average is $125.54. The company has a current ratio of 2.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.11.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.09. The firm had revenue of $724.00 million for the quarter, compared to analyst estimates of $760.88 million. Middleby had a net margin of 11.27% and a return on equity of 21.17%. Middleby’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.56 EPS. On average, equities analysts anticipate that Middleby will post 6.56 EPS for the current year.

In other Middleby news, Director Robert A. Nerbonne bought 455 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $111.21 per share, with a total value of $50,600.55. Following the purchase, the director now directly owns 1,282 shares of the company’s stock, valued at approximately $142,571.22. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.98% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantamental Technologies LLC purchased a new position in Middleby in the 2nd quarter worth approximately $40,000. Steward Partners Investment Advisory LLC purchased a new position in Middleby in the 2nd quarter worth approximately $66,000. Tower Research Capital LLC TRC lifted its stake in Middleby by 5,606.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 856 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 841 shares in the last quarter. CNB Bank lifted its stake in Middleby by 266.4% in the 3rd quarter. CNB Bank now owns 894 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 650 shares in the last quarter. Finally, Quest Capital Management Inc. ADV acquired a new stake in shares of Middleby during the 3rd quarter worth approximately $114,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.

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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