KeyBanc Initiates Coverage On Middleby Corp to Overweight with Price Target $157

KeyBanc Initiates Coverage On Middleby Corp(MIDD). In a research note issued to the investors, the brokerage major Announces the price-target to $157 per share. The shares have been rated Overweight. The rating by the stock financial advisor at KeyBanc was issued on Feb 13, 2017 in a research report to their Investors and Clients.

In a different note, On Dec 15, 2016, Macquarie said it Downgrades its rating on Middleby Corp. According to the research note, Macquarie Lowers the price target to $150 per share from a prior target of $155. The shares have been rated ‘Neutral’ by the firm.

Middleby Corp (MIDD) shares turned negative on Wednesdays trading session with the shares closing down -1.77 points or -1.27% at a volume of 2,07,336. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $139.9. The peak price level was also seen at $139.9 while the days lowest was $137.68. Finally the shares closed at $137.97. The 52-week high of the shares is $143.6 while the 52-week low is $84.46. According to the latest information available, the market cap of the company is $7,939 M.

Middleby Corp(MIDD) last announced its earnings results on Nov 8, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $574.22M. Analysts had an estimated revenue of $601.01M. Earnings per share were $1.34. The reported EPS was above estimates by $0.08 or 6.35%. Analysts had estimated an EPS of $1.26.

Several Insider Transactions has been reported to the SEC. On Dec 12, 2016, Philip G Putnam (director) sold 2,500 shares at $139.58 per share price.Also, 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.

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.

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