BidaskClub Upgrades Middleby (MIDD) to Buy
BidaskClub upgraded shares of Middleby (NASDAQ:MIDD) from a hold rating to a buy rating in a report issued on Saturday morning.
A number of other research analysts also recently issued reports on MIDD. Citigroup lowered their price target on Middleby from $132.00 to $120.00 and set a neutral rating on the stock in a report on Friday, November 10th. Zacks Investment Research downgraded Middleby from a hold rating to a sell rating in a report on Tuesday, December 19th. Susquehanna Bancshares assumed coverage on Middleby in a report on Wednesday, September 27th. They set a positive rating and a $141.00 price target on the stock. BMO Capital Markets lowered their price target on Middleby from $150.00 to $145.00 and set an outperform rating on the stock in a report on Thursday, November 9th. Finally, Deutsche Bank lowered their price target on Middleby from $120.00 to $110.00 and set a hold rating on the stock in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $137.22.
Middleby (MIDD) opened at $135.28 on Friday. The stock has a market capitalization of $7,560.00, a price-to-earnings ratio of 25.43 and a beta of 1.88. The company has a current ratio of 1.93, a quick ratio of 1.02 and a debt-to-equity ratio of 0.72. Middleby has a 1-year low of $107.53 and a 1-year high of $150.87.
In other Middleby news, Treasurer Martin M. Lindsay sold 10,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $129.50, for a total value of $1,295,000.00. Following the transaction, the treasurer now owns 61,726 shares of the company’s stock, valued at $7,993,517. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Middleby by 1.2% in the second quarter. Vanguard Group Inc. now owns 4,541,273 shares of the industrial products company’s stock worth $551,811,000 after buying an additional 54,010 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Middleby by 19.9% in the second quarter. Goldman Sachs Group Inc. now owns 2,859,086 shares of the industrial products company’s stock worth $347,407,000 after buying an additional 474,506 shares during the period. BlackRock Inc. raised its stake in shares of Middleby by 2.7% in the second quarter. BlackRock Inc. now owns 2,701,818 shares of the industrial products company’s stock worth $328,297,000 after buying an additional 69,896 shares during the period. Fiera Capital Corp raised its stake in shares of Middleby by 19.3% in the second quarter. Fiera Capital Corp now owns 2,480,553 shares of the industrial products company’s stock worth $301,412,000 after buying an additional 401,561 shares during the period. Finally, CI Global Investments Inc. raised its stake in shares of Middleby by 42.4% in the third quarter. CI Global Investments Inc. now owns 2,122,025 shares of the industrial products company’s stock worth $271,980,000 after buying an additional 631,770 shares during the period. 99.08% of the stock is currently owned by institutional investors.
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Middleby 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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