Middleby Corp (NASDAQ:MIDD) Director Robert A. Nerbonne Acquires 450 Shares
Middleby Corp (NASDAQ:MIDD) Director Robert A. Nerbonne acquired 450 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $113.85 per share, with a total value of $51,232.50. Following the purchase, the director now owns 1,282 shares in the company, valued at $145,955.70. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
MIDD stock traded up $0.39 during trading hours on Tuesday, hitting $112.31. 648,284 shares of the stock traded hands, compared to its average volume of 453,031. The firm has a 50-day moving average of $132.35. Middleby Corp has a one year low of $96.65 and a one year high of $142.98. The firm has a market capitalization of $6.25 billion, a P/E ratio of 18.41 and a beta of 1.60. The company has a current ratio of 1.98, a quick ratio of 0.95 and a debt-to-equity ratio of 1.09.
Middleby (NASDAQ:MIDD) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.07). Middleby had a net margin of 11.27% and a return on equity of 21.63%. The firm had revenue of $761.00 million for the quarter, compared to the consensus estimate of $774.13 million. During the same period in the prior year, the business earned $1.63 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts anticipate that Middleby Corp will post 6.71 earnings per share for the current year.
A number of research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. ValuEngine downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Buckingham Research set a $153.00 price objective on shares of Middleby and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, BidaskClub downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $144.43.
The Middleby Corporation designs, manufactures, markets, distributes, and services 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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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