Middleby (MIDD) Reaches New 1-Year High at $138.97

Shares of Middleby Corp (NASDAQ:MIDD) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $138.97 and last traded at $138.94, with a volume of 19053 shares. The stock had previously closed at $136.75.

A number of analysts have issued reports on MIDD shares. TheStreet raised Middleby from a “c+” rating to a “b” rating in a report on Friday, January 25th. Zacks Investment Research raised Middleby from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a report on Tuesday, May 7th. BidaskClub downgraded Middleby from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 10th. Jefferies Financial Group started coverage on Middleby in a report on Wednesday, April 3rd. They set a “hold” rating and a $135.00 price target for the company. Finally, Robert W. Baird raised Middleby from a “neutral” rating to an “outperform” rating and set a $142.00 price target for the company in a report on Tuesday, January 22nd. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $147.43.

The company has a quick ratio of 0.95, a current ratio of 1.98 and a debt-to-equity ratio of 1.09. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 22.66 and a beta of 1.79.

Middleby (NASDAQ:MIDD) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.01. Middleby had a return on equity of 21.91% and a net margin of 11.35%. The business had revenue of $686.80 million during the quarter, compared to the consensus estimate of $683.01 million. During the same period in the previous year, the business earned $1.20 EPS. The business’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts anticipate that Middleby Corp will post 6.92 EPS for the current year.

In other Middleby news, Director John R. Miller III sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $126.37, for a total transaction of $252,740.00. Following the completion of the sale, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $2,021,920. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Chapin Sarah Palisi sold 300 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $124.18, for a total value of $37,254.00. Following the sale, the director now directly owns 5,100 shares of the company’s stock, valued at $633,318. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Man Group plc acquired a new position in Middleby during the 3rd quarter worth approximately $464,000. AQR Capital Management LLC acquired a new stake in Middleby during the 3rd quarter valued at $252,000. Federated Investors Inc. PA acquired a new stake in Middleby during the 3rd quarter valued at $5,865,000. Vanguard Group Inc grew its holdings in Middleby by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 4,755,844 shares of the industrial products company’s stock valued at $615,168,000 after buying an additional 47,899 shares during the last quarter. Finally, Addenda Capital Inc. grew its holdings in Middleby by 3.8% during the 4th quarter. Addenda Capital Inc. now owns 9,093 shares of the industrial products company’s stock valued at $846,000 after buying an additional 332 shares during the last quarter.

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Middleby Company Profile (NASDAQ:MIDD)

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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