William Blair Research Analysts Lower Earnings Estimates for The Middleby Corporation (MIDD)

The Middleby Corporation (NASDAQ:MIDD) – Equities researchers at William Blair dropped their Q4 2017 earnings per share 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 anticipates that the industrial products company will post earnings of $1.53 per share for the quarter, down from their prior estimate of $1.55. William Blair also issued estimates for The Middleby Corporation’s FY2018 earnings at $6.05 EPS.

MIDD has been the subject of a number of other reports. Macquarie upgraded The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 price objective for the company in a report on Tuesday, August 15th. BMO Capital Markets reiterated a “buy” rating and set a $150.00 price objective on shares of The Middleby Corporation in a report on Friday, August 11th. BidaskClub upgraded The Middleby Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research raised The Middleby Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $130.00 price target on shares of The Middleby Corporation in a research report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The Middleby Corporation has a consensus rating of “Hold” and an average target price of $140.63.

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The Middleby Corporation (NASDAQ:MIDD) opened at $109.84 on Friday. 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 stock has a market capitalization of $6,078.85, a PE ratio of 20.06 and a beta of 1.87. The Middleby Corporation has a fifty-two week low of $107.68 and a fifty-two week high of $150.87.

The Middleby Corporation (NASDAQ:MIDD) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.01. The business had revenue of $579.34 million during the quarter, compared to the consensus estimate of $587.49 million. The Middleby Corporation had a return on equity of 23.17% and a net margin of 13.22%.

In other news, Director John R. Miller III sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was 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 directly owns 16,000 shares of the company’s stock, valued at $1,896,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gordon Obrien sold 5,600 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 11,050 shares of the company’s stock, valued at $1,341,580.50. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in The Middleby Corporation by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,541,273 shares of the industrial products company’s stock worth $551,811,000 after purchasing an additional 54,010 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in The Middleby Corporation by 19.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,859,086 shares of the industrial products company’s stock worth $347,407,000 after purchasing an additional 474,506 shares during the last quarter. BlackRock Inc. lifted its holdings in The Middleby Corporation by 2.7% during the 2nd quarter. BlackRock Inc. now owns 2,701,818 shares of the industrial products company’s stock worth $328,297,000 after purchasing an additional 69,896 shares during the last quarter. Fiera Capital Corp lifted its holdings in The Middleby Corporation by 19.3% during the 2nd quarter. Fiera Capital Corp now owns 2,480,553 shares of the industrial products company’s stock worth $301,412,000 after purchasing an additional 401,561 shares during the last quarter. Finally, CI Global Investments Inc. lifted its holdings in The Middleby Corporation by 42.4% during the 3rd quarter. CI Global Investments Inc. now owns 2,122,025 shares of the industrial products company’s stock worth $271,980,000 after purchasing an additional 631,770 shares during the last quarter. 94.41% of the stock is owned by institutional investors and hedge funds.

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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