Shares of Middleby Corp (NASDAQ:MIDD) have earned a consensus rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $95.25.
Several equities research analysts have commented on MIDD shares. BidaskClub raised shares of Middleby from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Investment Research downgraded shares of Middleby from a “hold” rating to a “sell” rating and set a $57.00 price objective on the stock. in a report on Tuesday, May 5th. ValuEngine raised shares of Middleby from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Citigroup upped their price objective on shares of Middleby from $64.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Finally, CL King started coverage on Middleby in a research report on Tuesday, June 2nd. They set a “buy” rating and a $86.00 price target on the stock.
Shares of NASDAQ:MIDD opened at $75.13 on Tuesday. The company’s 50-day moving average is $71.10 and its 200 day moving average is $85.78. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.46 and a current ratio of 2.48. The company has a market capitalization of $4.23 billion, a P/E ratio of 11.70 and a beta of 1.61. Middleby has a fifty-two week low of $41.73 and a fifty-two week high of $142.98.
In related news, Director Robert A. Nerbonne acquired 1,540 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average cost of $63.67 per share, for a total transaction of $98,051.80. Following the completion of the transaction, the director now owns 2,443 shares in the company, valued at $155,545.81. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert A. Nerbonne acquired 1,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $56.76 per share, for a total transaction of $99,330.00. Over the last 90 days, insiders purchased 7,660 shares of company stock worth $495,723. 1.98% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Sunbelt Securities Inc. bought a new position in Middleby during the fourth quarter valued at approximately $3,860,000. Verus Capital Partners LLC purchased a new position in Middleby during the fourth quarter worth approximately $31,000. Point72 Hong Kong Ltd purchased a new position in shares of Middleby in the fourth quarter valued at approximately $64,000. Penserra Capital Management LLC lifted its position in shares of Middleby by 111.9% in the fourth quarter. Penserra Capital Management LLC now owns 784 shares of the industrial products company’s stock valued at $86,000 after acquiring an additional 414 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Middleby by 416.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 904 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 729 shares during the last quarter. Institutional investors and hedge funds own 96.34% of the company’s stock.
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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