The Middleby Corporation (NASDAQ:MIDD) shares traded -1.66% lower at $142.09 on Wall Street last session.
In accordance with the data, 11 analysts cover The Middleby Corporation (NASDAQ:MIDD). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $180.00 and a low of $155.00, we find $175.00. Given the previous closing price of $144.49, this indicates a potential upside of 21.12 percent. MIDD stock price is now -5.51% away from the 50-day moving average and 0.60% away from the 200-day moving average. The market capitalization of the company currently stands at $7.91B.
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It has been rated a hold by 2 analysts and a buy by 7. Brokers who have rated the stock have averaged $173.20 as their price target over the next twelve months.
With the price target of $171, Canaccord Genuity recently initiated with Buy rating for The Middleby Corporation (NASDAQ: MIDD). On August 26, 2022, The Benchmark Company recently initiated its ‘Buy’ rating on the stock quoting a target price of $190, while ‘Barclays’ rates the stock as ‘Overweight’.
In other news, Palisi Chapin Sarah, Director sold 300 shares of the company’s stock on Mar 06. The stock was sold for $47,217 at an average price of $157.39. Upon completion of the transaction, the Director now directly owns 7,506 shares in the company, valued at $1.07 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 02, Director Palisi Chapin Sarah sold 225 shares of the business’s stock. A total of $32,587 was realized by selling the stock at an average price of $144.83. This leaves the insider owning 6,760 shares of the company worth $0.96 million. Insiders disposed of 3,166 shares of company stock worth roughly $0.45 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MIDD stock. A new stake in The Middleby Corporation shares was purchased by IMPAX ASSET MANAGEMENT GROUP PLC during the first quarter worth $18,467,000. PORTMAN SQUARE CAPITAL LLP invested $13,129,000 in shares of MIDD during the first quarter. In the first quarter, STONEPINE ASSET MANAGEMENT INC. acquired a new stake in The Middleby Corporation valued at approximately $7,577,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in MIDD for approximately $5,604,000. NOMURA HOLDINGS INC purchased a new stake in MIDD valued at around $4,434,000 in the second quarter.
The Middleby Corporation (NASDAQ: MIDD) opened at $142.27 on Monday. During the past 12 months, The Middleby Corporation has had a low of $120.30 and a high of $175.34. As of last week, the company has a debt-to-equity ratio of 0.97, a current ratio of 2.00, and a quick ratio of 0.90. The fifty day moving average price for MIDD is $150.38 and a two-hundred day moving average price translates $141.25 for the stock.
The latest earnings results from The Middleby Corporation (NASDAQ: MIDD) was released for Sep, 2022. According to the Specialty Industrial Machinery Company, earnings per share came in at $2.18, missing analysts’ expectations of $2.36 by -0.18. This compares to $1.81 EPS in the same period last year. The net profit margin was 10.80% and return on equity was 17.20% for MIDD. The company reported revenue of $1.03 billion for the quarter, compared to $866.42 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.08 percent. For the current quarter, analysts expect MIDD to generate $1.01B in revenue.
Investors who held shares on 12/18/2000 were paid a $0.10 dividend.
The Middleby Corporation(MIDD) Company Profile
The Middleby Corporation designs, manufactures, markets, distributes, and services a range of 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 conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions. The company’s Food Processing Equipment Group segment provides batch, baking, proofing, conveyor belt, and continuous processing ovens; frying and automated thermal processing systems; tumblers, massagers, grinders, slicers, reduction and emulsion systems, mixers, formers, and blenders; battering, breading, and seeding equipment; water cutting systems, food presses, food suspension equipment, filling and depositing solutions, and forming equipment; and food safety, food handling, freezing, and defrosting and packaging equipment for customers producing hot dog, dinner sausage, poultry, and lunchmeat, as well as muffin, cookie, and bread products. Its Residential Kitchen Equipment Group segment offers kitchen equipment comprising cookers, stoves, dishwashers, microwaves, cooktops, wine coolers, ice machines, and ventilation and outdoor equipment. The company was formerly known as Middleby Marshall Oven Company and changed its name to The Middleby Corporation in 1985. The company was founded in 1888 and is based in Elgin, Illinois.
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