The Middleby Corporation (NASDAQ:MIDD) – Investment analysts at KeyCorp reduced their FY2017 earnings per share (EPS) estimates for shares of The Middleby Corporation in a report released on Wednesday. KeyCorp analyst J. Picariello now forecasts that the industrial products company will post earnings of $5.34 per share for the year, down from their prior forecast of $5.49.

Other research analysts have also issued research reports about the stock. BMO Capital Markets restated a “buy” rating and set a $150.00 price target on shares of The Middleby Corporation in a report on Friday, August 11th. Zacks Investment Research upgraded shares of The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a report on Tuesday, July 18th. Citigroup Inc. restated a “neutral” rating and set a $130.00 price target on shares of The Middleby Corporation in a report on Thursday, September 7th. Macquarie upgraded shares of The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Tuesday, August 15th. Finally, Robert W. Baird lowered their price target on shares of The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $141.88.

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The Middleby Corporation (MIDD) opened at $108.66 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. The Middleby Corporation has a fifty-two week low of $108.27 and a fifty-two week high of $150.87. The stock has a market cap of $6,300.00, a P/E ratio of 22.05 and a beta of 1.86.

The Middleby Corporation (NASDAQ:MIDD) last released its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. The firm had revenue of $579.34 million during the quarter, compared to analyst estimates of $587.49 million.

In other news, Director John R. Miller III sold 8,500 shares of The Middleby Corporation 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 completion of the sale, the director now owns 16,000 shares in the company, valued at approximately $1,896,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gordon Obrien sold 5,600 shares of The Middleby Corporation 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 of the company’s stock, valued at approximately $1,341,580.50. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MIDD. Koch Industries Inc. increased its stake in shares of The Middleby Corporation by 58,978.1% in the 2nd quarter. Koch Industries Inc. now owns 884,399 shares of the industrial products company’s stock valued at $877,000 after acquiring an additional 882,902 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of The Middleby Corporation by 144.9% in the 2nd quarter. Janus Henderson Group PLC now owns 1,352,865 shares of the industrial products company’s stock valued at $164,386,000 after acquiring an additional 800,527 shares in the last quarter. CI Global Investments Inc. increased its stake in shares of The Middleby Corporation by 42.4% in the 3rd quarter. CI Global Investments Inc. now owns 2,122,025 shares of the industrial products company’s stock valued at $271,980,000 after acquiring an additional 631,770 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of The Middleby Corporation by 170.9% in the 3rd quarter. Wells Fargo & Company MN now owns 957,172 shares of the industrial products company’s stock valued at $122,680,000 after acquiring an additional 603,869 shares in the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of The Middleby Corporation by 40.4% in the 2nd quarter. William Blair Investment Management LLC now owns 1,809,903 shares of the industrial products company’s stock valued at $219,921,000 after acquiring an additional 520,906 shares in the last quarter. Institutional investors own 94.41% of the company’s stock.

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.

Earnings History and Estimates for The Middleby Corporation (NASDAQ:MIDD)

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