Middleby Corp (MIDD) was Initiated by KeyBanc Capital Mkts to “Overweight” and the brokerage firm has set the Price Target at $157. KeyBanc Capital Mkts advised their Clients and Investors in a research report released on Feb 14, 2017.
On the company’s financial health, Middleby Corp reported $1.04 EPS for the quarter, based on the information available during the earnings call on Nov 10, 2015. Analyst had a consensus estimate of $1.04. The company had revenue of $449.00 million for the quarter, compared to analysts expectations of $446.45 million. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.
Several company insiders have filed Insider transactions , on Dec 12, 2016, Philip G Putnam (director) sold 2,500 shares at $139.58 per share price. According to the SEC, on Nov 28, 2016, Robert B Lamb (director) sold 3,422 shares at $135.83 per share price. On Nov 16, 2016, Chapin Sarah Palisi (director) sold 1,100 shares at $125.36 per share price, according to the Form-4 filing with the securities and exchange commission.
Middleby Corp closed down -0.8 points or -0.58% at $137.13 with 2,84,945 shares getting traded on Friday. Post opening the session at $138.27, the shares hit an intraday low of $136.49 and an intraday high of $138.47 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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 has a portfolio of cooking and warming equipment; the Food Processing Equipment Group offers a portfolio of processing solutions for customers producing pre-cooked meat products and the Residential Kitchen Equipment Group manufactures sells and distributes kitchen equipment for the residential market. The equipment are used in all types of commercial restaurants and institutional kitchens; food preparation cooking baking chilling and packaging equipment for food processing operations and kitchen equipment including ranges ovens refrigerators ventilation and dishwashers used in the residential market. Its brands include Anets Beech Blodgett Britannia CTX Cozzini Danfotech Drake Brigade Jade and TurboChef among others.