The Middleby Corporation (NASDAQ:MIDD) has earned an average rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $140.43.

A number of equities analysts recently issued reports on MIDD shares. Zacks Investment Research lowered shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. BidaskClub raised shares of The Middleby Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 25th. BMO Capital Markets reaffirmed a “buy” rating and set a $150.00 target price on shares of The Middleby Corporation in a research report on Friday, August 11th. Robert W. Baird dropped their target price on shares of The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. Finally, Macquarie raised shares of The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 target price on the stock in a research report on Tuesday, August 15th.

In other news, Director John R. Miller III sold 8,500 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $118.50, for a total value of $1,007,250.00. Following the sale, the director now owns 16,000 shares in the company, valued at approximately $1,896,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gordon Obrien sold 5,600 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $121.41, for a total transaction of $679,896.00. Following the completion of the sale, the director now owns 11,050 shares in the company, valued at approximately $1,341,580.50. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. World Asset Management Inc boosted its stake in shares of The Middleby Corporation by 1.1% in the 2nd quarter. World Asset Management Inc now owns 2,591 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 27 shares in the last quarter. 1st Global Advisors Inc. boosted its stake in shares of The Middleby Corporation by 0.6% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,979 shares of the industrial products company’s stock valued at $727,000 after purchasing an additional 34 shares in the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in shares of The Middleby Corporation by 0.7% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 5,396 shares of the industrial products company’s stock valued at $656,000 after purchasing an additional 35 shares in the last quarter. Albion Financial Group UT boosted its stake in shares of The Middleby Corporation by 1.3% in the 2nd quarter. Albion Financial Group UT now owns 3,179 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 40 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of The Middleby Corporation by 4.7% in the 2nd quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 95.03% of the company’s stock.

Shares of The Middleby Corporation (MIDD) traded down $0.49 during mid-day trading on Thursday, reaching $110.15. 679,100 shares of the company were exchanged, compared to its average volume of 445,533. The Middleby Corporation has a fifty-two week low of $107.53 and a fifty-two week high of $150.87. The company has a market capitalization of $6,150.00, a price-to-earnings ratio of 20.41 and a beta of 1.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.93 and a quick ratio of 1.04.

The Middleby Corporation announced that its board has authorized a share buyback program on Tuesday, November 14th that allows the company to buyback 2,500,000 outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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About The Middleby Corporation

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)

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