Brokerages Set The Middleby Corporation (MIDD) PT at $140.43

Shares of The Middleby Corporation (NASDAQ:MIDD) have been given a consensus rating of “Hold” by the twelve brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $136.63.

A number of equities research analysts have recently issued reports on MIDD shares. Citigroup Inc. reaffirmed a “neutral” rating and issued a $130.00 target price on shares of The Middleby Corporation in a report on Thursday, September 7th. BidaskClub raised shares of The Middleby Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th. Macquarie upgraded shares of The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 price target on the stock in a research note on Tuesday, August 15th. Zacks Investment Research lowered shares of The Middleby Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Finally, Susquehanna Bancshares Inc initiated coverage on shares of The Middleby Corporation in a research note on Wednesday, September 27th. They issued a “positive” rating and a $141.00 price target on the stock.

Shares of The Middleby Corporation (NASDAQ:MIDD) traded up $2.48 during mid-day trading on Thursday, hitting $113.69. 549,359 shares of the stock were exchanged, compared to its average volume of 802,560. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.02 and a current ratio of 1.93. The company has a market cap of $6,356.73, a PE ratio of 20.98 and a beta of 1.87. The Middleby Corporation has a 12 month low of $107.53 and a 12 month high of $150.87.

The Middleby Corporation declared that its Board of Directors has approved a share buyback plan on Tuesday, November 14th that authorizes the company to repurchase 2,500,000 outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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In other The Middleby Corporation news, Director Gordon Obrien sold 5,600 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $121.41, for a total transaction of $679,896.00. Following the transaction, the director now owns 11,050 shares in the company, valued at approximately $1,341,580.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John R. Miller III sold 8,500 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $118.50, for a total transaction of $1,007,250.00. Following the transaction, the director now owns 16,000 shares in the company, valued at approximately $1,896,000. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. IFP Advisors Inc grew its position in shares of The Middleby Corporation by 10.5% during the 2nd quarter. IFP Advisors Inc now owns 1,031 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 98 shares in the last quarter. LS Investment Advisors LLC grew its position in shares of The Middleby Corporation by 4.7% during the 2nd quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 48 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of The Middleby Corporation by 9.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,124 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 95 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of The Middleby Corporation during the 2nd quarter worth approximately $143,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of The Middleby Corporation during the 2nd quarter worth approximately $154,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

The Middleby Corporation 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.

Analyst Recommendations for The Middleby Corporation (NASDAQ:MIDD)

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