The Middleby Corporation to Post FY2017 Earnings of $5.45 Per Share, William Blair Forecasts (MIDD)

The Middleby Corporation (NASDAQ:MIDD) – Investment analysts at William Blair reduced their FY2017 EPS estimates for shares of The Middleby Corporation in a research report issued to clients and investors on Wednesday. William Blair analyst L. De. Maria now forecasts that the industrial products company will earn $5.45 per share for the year, down from their prior forecast of $5.60.

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Several other research analysts also recently weighed in on the stock. Citigroup Inc. dropped their target price on shares of The Middleby Corporation from $132.00 to $120.00 and set a “neutral” rating for the company in a report on Friday. BMO Capital Markets dropped their target price on shares of The Middleby Corporation from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday. Zacks Investment Research raised shares of The Middleby Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Susquehanna Bancshares Inc began coverage on shares of The Middleby Corporation in a report on Wednesday, September 27th. They issued a “positive” rating and a $141.00 target price for the company. Finally, Macquarie raised shares of The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 target price for the company in a report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $140.63.

The Middleby Corporation (MIDD) opened at $109.84 on Monday. The firm has a market cap of $6,141.48, a price-to-earnings ratio of 20.27 and a beta of 1.87. The company has a quick ratio of 1.04, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The Middleby Corporation has a 1-year low of $107.68 and a 1-year high of $150.87.

A number of hedge funds have recently made changes to their positions in the business. World Asset Management Inc lifted its stake in The Middleby Corporation by 1.1% in the 2nd quarter. World Asset Management Inc now owns 2,591 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 27 shares in the last quarter. 1st Global Advisors Inc. raised its position in shares of The Middleby Corporation by 0.6% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,979 shares of the industrial products company’s stock valued at $727,000 after buying an additional 34 shares in the last quarter. Honkamp Krueger Financial Services Inc. raised its position in shares of The Middleby Corporation by 0.7% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 5,396 shares of the industrial products company’s stock valued at $656,000 after buying an additional 35 shares in the last quarter. Albion Financial Group UT raised its position in shares of The Middleby Corporation by 1.3% during the 2nd quarter. Albion Financial Group UT now owns 3,179 shares of the industrial products company’s stock valued at $386,000 after buying an additional 40 shares in the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of The Middleby Corporation by 4.7% during the 2nd quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock valued at $130,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 94.41% of the company’s stock.

In other The Middleby Corporation news, Director Gordon Obrien sold 5,600 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $121.41, for a total value of $679,896.00. Following the sale, the director now owns 11,050 shares in the company, valued at approximately $1,341,580.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John R. Miller III sold 8,500 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $118.50, for a total transaction 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 disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

The Middleby Corporation Company Profile

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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