Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Middleby (MIDD) Share Price

News coverage about Middleby (NASDAQ:MIDD) has trended somewhat positive this week, according to Accern. The research firm rates the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Middleby earned a news impact score of 0.09 on Accern’s scale. Accern also assigned media stories about the industrial products company an impact score of 46.6286239937411 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

Middleby (NASDAQ:MIDD) opened at $134.10 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.02 and a current ratio of 1.93. Middleby has a 12 month low of $107.53 and a 12 month high of $150.87. The firm has a market cap of $7,530.35, a P/E ratio of 25.25 and a beta of 1.88.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $1.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.05). Middleby had a return on equity of 23.28% and a net margin of 13.22%. research analysts predict that Middleby will post 5.41 earnings per share for the current year.

Middleby declared that its Board of Directors has authorized a share buyback program on Tuesday, November 14th that allows the company to buyback 2,500,000 shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

A number of research firms have recently issued reports on MIDD. Zacks Investment Research upgraded shares of Middleby from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a research report on Wednesday. BidaskClub downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Deutsche Bank reduced their price target on shares of Middleby from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, November 17th. Citigroup dropped their price objective on shares of Middleby from $132.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. Finally, BMO Capital Markets dropped their price objective on shares of Middleby from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, November 9th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $138.22.

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

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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.

Insider Buying and Selling by Quarter for Middleby (NASDAQ:MIDD)

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