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 research firms also recently commented on MIDD. Deutsche Bank AG initiated coverage on The Middleby Corp. in a research report on Tuesday, September 6th. They issued a hold rating and a $123.00 target price on the stock. Wellington Shields upgraded The Middleby Corp. from a hold rating to an accumulate rating in a research report on Friday, September 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $126.80.
The Middleby Corp. (NASDAQ:MIDD) traded down 0.72% during midday trading on Wednesday, reaching $117.06. The company’s stock had a trading volume of 59,220 shares. The stock’s 50-day moving average price is $124.41 and its 200 day moving average price is $118.46. The Middleby Corp. has a 1-year low of $79.11 and a 1-year high of $140.98. The firm has a market capitalization of $6.74 billion, a PE ratio of 29.49 and a beta of 1.45.
The Middleby Corp. (NASDAQ:MIDD) last posted its earnings results on Wednesday, August 10th. The company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.17. The Middleby Corp. had a return on equity of 20.50% and a net margin of 10.89%. Equities analysts anticipate that The Middleby Corp. will post $4.80 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the stock. 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 last quarter. BNP Paribas Arbitrage SA boosted its position in The Middleby Corp. by 305.6% in the third quarter. BNP Paribas Arbitrage SA now owns 941 shares of the company’s stock valued at $116,000 after buying an additional 709 shares during the last quarter. Johnson Financial Group Inc. boosted its position in The Middleby Corp. by 62.0% in the second quarter. Johnson Financial Group Inc. now owns 1,377 shares of the company’s stock valued at $159,000 after buying an additional 527 shares during the last quarter. WFG Advisors LP boosted its position in The Middleby Corp. by 18.1% in the second quarter. WFG Advisors LP now owns 1,754 shares of the company’s stock valued at $202,000 after buying an additional 269 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in The Middleby Corp. during the second quarter valued at approximately $215,000. 95.09% of the stock is owned by institutional investors and hedge funds.
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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