Middleby Corp (NASDAQ:MIDD) traded down 5.9% on Wednesday . The stock traded as low as $115.44 and last traded at $120.25. 2,872,050 shares were traded during mid-day trading, an increase of 475% from the average session volume of 499,211 shares. The stock had previously closed at $127.77.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Middleby from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a report on Wednesday, January 17th. Citigroup decreased their price objective on Middleby from $132.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, November 10th. BidaskClub downgraded Middleby from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Deutsche Bank decreased their price objective on Middleby from $120.00 to $110.00 and set a “hold” rating for the company in a report on Friday, November 17th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $150.00 price objective on shares of Middleby in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $139.38.
The company has a debt-to-equity ratio of 0.72, a current ratio of 1.93 and a quick ratio of 1.02. The stock has a market cap of $6,720.00, a P/E ratio of 22.60 and a beta of 1.78.
In other news, Treasurer Martin M. Lindsay sold 10,000 shares of the company’s 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 completion of the sale, the treasurer now owns 61,726 shares in the company, valued at $7,993,517. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in MIDD. Dimensional Fund Advisors LP raised its stake in shares of Middleby by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 220,550 shares of the industrial products company’s stock worth $26,797,000 after purchasing an additional 6,218 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Middleby during the second quarter worth approximately $154,000. Westpac Banking Corp raised its stake in shares of Middleby by 163.6% during the third quarter. Westpac Banking Corp now owns 46,528 shares of the industrial products company’s stock worth $5,963,000 after purchasing an additional 28,878 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Middleby by 19.9% during the third quarter. Public Employees Retirement Association of Colorado now owns 496,544 shares of the industrial products company’s stock worth $63,642,000 after purchasing an additional 82,299 shares during the last quarter. Finally, Seizert Capital Partners LLC purchased a new stake in shares of Middleby during the third quarter worth approximately $38,531,000. Institutional investors and hedge funds own 99.85% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This article was originally published by Ticker Report and is owned by of Ticker Report. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.tickerreport.com/banking-finance/3229058/middleby-midd-trading-down-5-9.html.
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.
Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.