Middleby (MIDD) Set to Announce Quarterly Earnings on Monday

Middleby (NASDAQ:MIDD) is scheduled to announce its earnings results after the market closes on Monday, February 26th. Analysts expect the company to announce earnings of $1.52 per share for the quarter.

Shares of Middleby (NASDAQ MIDD) opened at $135.00 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.02 and a debt-to-equity ratio of 0.72. Middleby has a 1-year low of $107.53 and a 1-year high of $150.87. The stock has a market capitalization of $7,548.25, a price-to-earnings ratio of 25.42 and a beta of 1.78.

Middleby announced that its Board of Directors has initiated a stock buyback program on Tuesday, November 14th that permits the company to buyback 2,500,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Several analysts recently issued reports on MIDD shares. BidaskClub upgraded Middleby from a “hold” rating to a “buy” rating in a report on Saturday, December 30th. BMO Capital Markets reiterated a “buy” rating and set a $150.00 price objective on shares of Middleby in a report on Wednesday, November 8th. Zacks Investment Research upgraded Middleby from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a report on Wednesday, January 17th. Deutsche Bank cut their price objective on Middleby from $120.00 to $110.00 and set a “hold” rating for the company in a report on Friday, November 17th. Finally, Citigroup increased their price objective on Middleby from $120.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $139.63.

In other Middleby news, Treasurer Martin M. Lindsay sold 10,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the transaction, the treasurer now directly owns 61,726 shares of the company’s stock, valued at $7,993,517. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

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Middleby 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 for Middleby (NASDAQ:MIDD)

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