The Middleby Corp. (MIDD) Shares Gap Up to $113.64
The Middleby Corp. (NASDAQ:MIDD)’s share price gapped up before the market opened on Friday . The stock had previously closed at $113.29, but opened at $113.64. The Middleby Corp. shares last traded at $115.75, with a volume of 132,429 shares changing hands.
Separately, Zacks Investment Research upgraded shares of The Middleby Corp. from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a report on Monday, May 23rd. Five investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $125.00.
The company has a market cap of $6.65 billion and a price-to-earnings ratio of 31.65. The company has a 50-day moving average price of $120.09 and a 200 day moving average price of $105.16.
The Middleby Corp. (NASDAQ:MIDD) last posted its quarterly earnings data on Wednesday, May 11th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.12. During the same period in the previous year, the business earned $0.80 earnings per share. The company had revenue of $516.36 million for the quarter, compared to analysts’ expectations of $515.56 million. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. Analysts anticipate that The Middleby Corp. will post $4.57 earnings per share for the current fiscal year.
A number of institutional investors recently bought and sold shares of the stock. Whittier Trust Co. increased its position in The Middleby Corp. by 1.1% in the fourth quarter. Whittier Trust Co. now owns 14,261 shares of the company’s stock valued at $1,538,000 after buying an additional 149 shares during the last quarter. Rhumbline Advisers increased its position in The Middleby Corp. by 3.1% in the fourth quarter. Rhumbline Advisers now owns 52,882 shares of the company’s stock valued at $5,704,000 after buying an additional 1,567 shares during the last quarter. Financial Counselors Inc. increased its position in The Middleby Corp. by 36.7% in the fourth quarter. Financial Counselors Inc. now owns 16,618 shares of the company’s stock valued at $1,793,000 after buying an additional 4,462 shares during the last quarter. Sei Investments Co. increased its position in The Middleby Corp. by 28.1% in the fourth quarter. Sei Investments Co. now owns 23,911 shares of the company’s stock valued at $2,579,000 after buying an additional 5,246 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in The Middleby Corp. by 8.6% in the fourth quarter. Brown Advisory Inc. now owns 88,015 shares of the company’s stock valued at $9,494,000 after buying an additional 6,995 shares during the last quarter.
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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