The Middleby Corporation (NASDAQ:MIDD) was upgraded by analysts at Wellington Shields from a “hold” rating to a “gradually accumulate” rating in a research report issued to clients and investors on Tuesday, July 11th, Marketbeat.com reports.

Several other brokerages also recently commented on MIDD. Zacks Investment Research downgraded shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of The Middleby Corporation in a research report on Wednesday, May 17th. Seaport Global Securities began coverage on shares of The Middleby Corporation in a report on Thursday, June 29th. They set a “neutral” rating and a $128.00 price target for the company. Finally, BidaskClub downgraded shares of The Middleby Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $141.67.

The Middleby Corporation (NASDAQ MIDD) traded up 1.25% during midday trading on Tuesday, reaching $129.95. The company had a trading volume of 322,400 shares. The Middleby Corporation has a 12 month low of $108.45 and a 12 month high of $150.87. The stock has a market cap of $7.48 billion, a P/E ratio of 24.71 and a beta of 1.82. The firm has a 50-day moving average of $125.96 and a 200-day moving average of $132.97.

The Middleby Corporation (NASDAQ:MIDD) last announced its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.14 by $0.12. The Middleby Corporation had a net margin of 13.16% and a return on equity of 23.45%. The business had revenue of $530.30 million during the quarter, compared to the consensus estimate of $542.50 million. On average, equities analysts expect that The Middleby Corporation will post $5.67 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “The Middleby Corporation (MIDD) Raised to “Gradually Accumulate” at Wellington Shields” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/08/07/the-middleby-corporation-midd-rating-increased-to-gradually-accumulate-at-wellington-shields-updated-updated-updated.html.

Several hedge funds and other institutional investors have recently made changes to their positions in MIDD. Atria Investments LLC increased its position in shares of The Middleby Corporation by 3.1% in the first quarter. Atria Investments LLC now owns 2,943 shares of the industrial products company’s stock valued at $402,000 after buying an additional 88 shares during the period. Weybosset Research & Management LLC increased its position in shares of The Middleby Corporation by 0.6% in the first quarter. Weybosset Research & Management LLC now owns 42,671 shares of the industrial products company’s stock valued at $5,822,000 after buying an additional 272 shares during the period. Bank of Montreal Can increased its position in shares of The Middleby Corporation by 108.6% in the first quarter. Bank of Montreal Can now owns 38,215 shares of the industrial products company’s stock valued at $5,213,000 after buying an additional 19,899 shares during the period. Gulf International Bank UK Ltd increased its position in shares of The Middleby Corporation by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 17,850 shares of the industrial products company’s stock valued at $2,435,000 after buying an additional 100 shares during the period. Finally, Creative Planning boosted its stake in shares of The Middleby Corporation by 1.6% in the first quarter. Creative Planning now owns 4,742 shares of the industrial products company’s stock valued at $647,000 after buying an additional 76 shares in the last quarter. Institutional investors own 95.63% of the company’s stock.

The Middleby Corporation 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.

Analyst Recommendations for The Middleby Corporation (NASDAQ:MIDD)

Receive News & Stock Ratings for The Middleby Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Middleby Corporation and related stocks with our FREE daily email newsletter.