Middleby (MIDD) Stock Rating Lowered by BidaskClub

Middleby (NASDAQ:MIDD) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research analysts also recently commented on MIDD. Citigroup reduced their price target on Middleby from $132.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, November 10th. Zacks Investment Research raised Middleby from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Susquehanna Bancshares assumed coverage on Middleby in a report on Wednesday, September 27th. They issued a “positive” rating and a $141.00 price target for the company. BMO Capital Markets reduced their price target on Middleby from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, November 9th. Finally, Deutsche Bank reduced their price target on Middleby from $120.00 to $110.00 and set a “hold” rating for the company in a report on Friday, November 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $137.22.

Shares of Middleby (MIDD) opened at $135.67 on Friday. Middleby has a 1 year low of $107.53 and a 1 year high of $150.87. The company has a quick ratio of 1.02, a current ratio of 1.93 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $7,607.51, a PE ratio of 25.55 and a beta of 1.88.

Middleby declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 14th that allows the company to repurchase 2,500,000 shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

In other Middleby news, Treasurer Martin M. Lindsay sold 10,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the transaction, the treasurer now owns 61,726 shares of the company’s stock, valued at approximately $7,993,517. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. 1st Global Advisors Inc. lifted its holdings in Middleby by 0.6% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,979 shares of the industrial products company’s stock worth $727,000 after buying an additional 34 shares during the last quarter. Albion Financial Group UT lifted its holdings in Middleby by 1.3% during the 2nd quarter. Albion Financial Group UT now owns 3,179 shares of the industrial products company’s stock worth $386,000 after buying an additional 40 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in Middleby 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 buying an additional 95 shares during the last quarter. AXA lifted its holdings in Middleby by 1.2% during the 2nd quarter. AXA now owns 8,424 shares of the industrial products company’s stock worth $1,024,000 after buying an additional 100 shares during the last quarter. Finally, Comerica Securities Inc. lifted its holdings in Middleby by 6.3% during the 2nd quarter. Comerica Securities Inc. now owns 2,535 shares of the industrial products company’s stock worth $308,000 after buying an additional 150 shares during the last quarter. 99.08% of the stock is currently owned by institutional investors.

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About Middleby

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 Middleby (NASDAQ:MIDD)

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