Middleby’s (MIDD) Hold Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reissued their hold rating on shares of Middleby (NASDAQ:MIDD) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The firm currently has a $160.00 price target on the industrial products company’s stock, down from their prior price target of $170.00.

A number of other brokerages have also weighed in on MIDD. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Canaccord Genuity Group lowered their price target on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $154.67.

Middleby Trading Down 1.7 %

NASDAQ:MIDD opened at $138.75 on Thursday. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. Middleby has a 52 week low of $118.41 and a 52 week high of $161.01. The business’s 50 day moving average is $138.68 and its two-hundred day moving average is $134.44. The company has a market cap of $7.46 billion, a PE ratio of 19.14 and a beta of 1.60.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The company had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.35 EPS. On average, analysts predict that Middleby will post 9.12 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MIDD. Cetera Advisors LLC raised its stake in shares of Middleby by 13.7% in the first quarter. Cetera Advisors LLC now owns 1,560 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 188 shares in the last quarter. SG Americas Securities LLC raised its position in Middleby by 319.7% in the 2nd quarter. SG Americas Securities LLC now owns 10,979 shares of the industrial products company’s stock valued at $1,346,000 after buying an additional 8,363 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Middleby in the second quarter valued at $225,000. Blue Trust Inc. boosted its position in Middleby by 4.8% during the second quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 93 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its stake in Middleby by 2.9% in the second quarter. Boston Trust Walden Corp now owns 44,866 shares of the industrial products company’s stock valued at $5,501,000 after acquiring an additional 1,275 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

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.