The Middleby Co. (NASDAQ:MIDD) Receives $174.67 Consensus PT from Brokerages

Shares of The Middleby Co. (NASDAQ:MIDD) have earned a consensus rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $178.83.

Several research firms recently issued reports on MIDD. Canaccord Genuity Group raised their price target on Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. KeyCorp lifted their price objective on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. StockNews.com lowered Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Robert W. Baird lifted their price objective on Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a research report on Monday.

Middleby Price Performance

MIDD opened at $169.54 on Friday. The stock’s 50 day simple moving average is $143.91 and its 200 day simple moving average is $139.54. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. Middleby has a 1 year low of $118.41 and a 1 year high of $177.90. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 23.38 and a beta of 1.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Middleby by 121.4% during the fourth quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company’s stock valued at $615,000 after buying an additional 2,425 shares during the last quarter. Olstein Capital Management L.P. raised its stake in Middleby by 3.6% during the fourth quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company’s stock valued at $9,617,000 after buying an additional 2,500 shares during the last quarter. Atria Investments Inc raised its stake in Middleby by 533.3% during the third quarter. Atria Investments Inc now owns 10,348 shares of the industrial products company’s stock valued at $1,440,000 after buying an additional 8,714 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in Middleby during the fourth quarter valued at $219,000. Finally, Quest Partners LLC raised its stake in Middleby by 142,460.0% during the third quarter. Quest Partners LLC now owns 7,128 shares of the industrial products company’s stock valued at $992,000 after buying an additional 7,123 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

About Middleby

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.