The Middleby Corp. (MIDD) Sees Unusually-High Trading Volume
Shares of The Middleby Corp. (NASDAQ:MIDD) saw unusually-high trading volume on Friday . Approximately 539,402 shares changed hands during mid-day 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 raised The Middleby Corp. from a “sell” rating to a “hold” rating in a report on Monday, May 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $125.00.
The company’s 50 day moving average price is $117.98 and its 200-day moving average price is $108.78. The firm has a market cap of $7.44 billion and a price-to-earnings ratio of 32.88.
The Middleby Corp. (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. Equities analysts predict that The Middleby Corp. will post $4.71 EPS for the current year.
Other large investors recently made changes to their positions in the company. RS Investment Management Co. LLC raised its stake in shares of The Middleby Corp. by 716.0% in the fourth quarter. RS Investment Management Co. LLC now owns 302,500 shares of the company’s stock worth $32,631,000 after buying an additional 265,430 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of The Middleby Corp. by 32.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,025,770 shares of the company’s stock worth $110,650,000 after buying an additional 248,921 shares during the period. Nicholas Co. Inc. WI raised its stake in shares of The Middleby Corp. by 10.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 53,395 shares of the company’s stock worth $5,759,000 after buying an additional 5,000 shares during the period. Marshall Wace LLP bought a new stake in shares of The Middleby Corp. during the fourth quarter worth $2,465,000. Finally, Wells Fargo & Company MN raised its stake in shares of The Middleby Corp. by 35.7% in the fourth quarter. Wells Fargo & Company MN now owns 398,055 shares of the company’s stock worth $42,938,000 after buying an additional 104,818 shares during the period.
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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