According to Zacks, “Middleby has been steadily improving its business on the back of product portfolio solidification and greater operational efficacy. The company intends to finance several capital deployment programs with free cash generated from operating activities. Moreover, the Middleby’s latest acquisitions are also estimated to improve its revenue and earnings growth trajectory in the near term. Owing to these bullish factors, Zacks Consensus Estimate for the stock has been revised upwards for both 2016 and 2017, over the last 60 days. However, unfavorable input price fluctuations, stiff industry rivalry, a stronger U.S. dollar and weak energy resource prices might limit growth.”
A number of other equities analysts have also recently issued reports on the stock. Wellington Shields upgraded shares of The Middleby Corp. from a hold rating to an accumulate rating in a research note on Friday, September 9th. Deutsche Bank AG assumed coverage on shares of The Middleby Corp. in a research note on Tuesday, September 6th. They issued a hold rating and a $123.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The Middleby Corp. presently has an average rating of Buy and an average price target of $126.80.
Shares of The Middleby Corp. (NASDAQ:MIDD) opened at 116.10 on Wednesday. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 29.24 and a beta of 1.45. The Middleby Corp. has a 52 week low of $79.11 and a 52 week high of $140.98. The stock has a 50 day moving average of $123.33 and a 200-day moving average of $118.82.
The Middleby Corp. (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. The Middleby Corp. had a net margin of 10.89% and a return on equity of 20.50%. Analysts expect that The Middleby Corp. will post $4.80 earnings per share for the current year.
Several large investors have recently made changes to their positions in MIDD. IFP Advisors Inc boosted its stake in shares of The Middleby Corp. by 0.6% in the second quarter. IFP Advisors Inc now owns 876 shares of the company’s stock worth $101,000 after buying an additional 5 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of The Middleby Corp. by 305.6% in the third quarter. BNP Paribas Arbitrage SA now owns 941 shares of the company’s stock worth $116,000 after buying an additional 709 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of The Middleby Corp. by 62.0% in the second quarter. Johnson Financial Group Inc. now owns 1,377 shares of the company’s stock worth $159,000 after buying an additional 527 shares during the period. WFG Advisors LP boosted its stake in shares of The Middleby Corp. by 18.1% in the second quarter. WFG Advisors LP now owns 1,754 shares of the company’s stock worth $202,000 after buying an additional 269 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in shares of The Middleby Corp. during the second quarter worth about $215,000. Institutional investors and hedge funds own 95.07% of the company’s stock.
About The Middleby Corp.
The Middleby Corporation (Middleby) 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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