The Middleby Corp. (MIDD) Sees Strong Trading Volume
Shares of The Middleby Corp. (NASDAQ:MIDD) saw strong trading volume on Friday . 539,402 shares were traded during trading, an increase of 42% from the previous session’s volume of 380,530 shares.The stock last traded at $130.26 and had previously closed at $132.17.
Separately, Zacks Investment Research upgraded The Middleby Corp. from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a report on Monday, May 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The Middleby Corp. currently has a consensus rating of “Buy” and an average target price of $125.00.
The company has a market capitalization of $7.51 billion and a P/E ratio of 35.78. The firm’s 50-day moving average is $117.98 and its 200 day moving average is $108.78.
The Middleby Corp. (NASDAQ:MIDD) last released its earnings results on Wednesday, August 10th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.17. On average, equities analysts expect that The Middleby Corp. will post $4.56 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in MIDD. Vanguard Group Inc. raised its position in The Middleby Corp. by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 3,801,042 shares of the company’s stock valued at $410,019,000 after buying an additional 98,574 shares during the last quarter. Bank of Montreal Can raised its position in The Middleby Corp. by 1,240.9% in the fourth quarter. Bank of Montreal Can now owns 30,855 shares of the company’s stock valued at $3,329,000 after buying an additional 28,554 shares during the last quarter. Wells Fargo & Company MN raised its position in The Middleby Corp. by 35.7% in the fourth quarter. Wells Fargo & Company MN now owns 398,055 shares of the company’s stock valued at $42,938,000 after buying an additional 104,818 shares during the last quarter. Marshall Wace LLP purchased a new position in The Middleby Corp. during the fourth quarter valued at about $2,465,000. Finally, Nicholas Co. Inc. WI raised its position in The Middleby Corp. by 10.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 53,395 shares of the company’s stock valued at $5,759,000 after buying an additional 5,000 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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