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

Wellington Shields cut shares of Middleby (NASDAQ:MIDD) from a gradually accumulate rating to a hold rating in a report published on Thursday, Briefing.com Automated Import reports.

Several other equities research analysts also recently weighed in on the stock. Citigroup cut their target price on shares of Middleby from $138.00 to $125.00 and set a neutral rating on the stock in a research note on Wednesday, August 14th. Buckingham Research set a $153.00 target price on shares of Middleby and gave the stock a buy rating in a research note on Wednesday, August 7th. TheStreet downgraded shares of Middleby from a b- rating to a c rating in a research note on Thursday, August 29th. ValuEngine downgraded shares of Middleby from a hold rating to a sell rating in a research note on Monday, November 4th. Finally, Zacks Investment Research raised shares of Middleby from a sell rating to a hold rating and set a $126.00 price objective on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Middleby has a consensus rating of Hold and a consensus price target of $141.57.

MIDD traded up $1.43 on Thursday, reaching $120.05. 192,300 shares of the company’s stock were exchanged, compared to its average volume of 406,974. Middleby has a twelve month low of $96.65 and a twelve month high of $142.98. The stock’s fifty day moving average price is $116.70 and its 200-day moving average price is $125.54. The stock has a market cap of $6.94 billion, a PE ratio of 19.68 and a beta of 1.63. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.10 and a quick ratio of 1.01.

Middleby (NASDAQ:MIDD) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.09. Middleby had a net margin of 11.27% and a return on equity of 21.17%. The firm had revenue of $724.00 million for the quarter, compared to the consensus estimate of $760.88 million. During the same period in the prior year, the firm earned $1.56 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts predict that Middleby will post 6.56 earnings per share for the current fiscal year.

In other news, Director Robert A. Nerbonne acquired 455 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $111.21 per share, with a total value of $50,600.55. Following the transaction, the director now owns 1,282 shares in the company, valued at approximately $142,571.22. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Large investors have recently made changes to their positions in the business. BBVA USA Bancshares Inc. acquired a new position in shares of Middleby in the 3rd quarter valued at $367,000. Tower Research Capital LLC TRC boosted its holdings in shares of 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 valued at $100,000 after buying an additional 841 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Middleby by 47.3% in the 3rd quarter. GW&K Investment Management LLC now owns 206,751 shares of the industrial products company’s stock valued at $24,169,000 after buying an additional 66,351 shares in the last quarter. CNB Bank boosted its holdings in shares of Middleby by 266.4% in the 3rd quarter. CNB Bank now owns 894 shares of the industrial products company’s stock valued at $105,000 after buying an additional 650 shares in the last quarter. Finally, Symmetry Partners LLC acquired a new position in shares of Middleby in the 3rd quarter valued at $325,000. 94.74% of the stock is currently owned by institutional investors.

About Middleby

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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