Analysts Set The Middleby Co. (NASDAQ:MIDD) PT at $154.67

The Middleby Co. (NASDAQ:MIDD) has received an average recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $154.67.

Several research firms have weighed in on MIDD. Canaccord Genuity Group lowered their price target on shares of Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, November 1st. StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group restated a “hold” rating and set a $160.00 price target (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 price objective on shares of Middleby in a research report on Saturday, September 14th.

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $136.98 on Friday. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 18.89 and a beta of 1.60. The stock’s 50-day moving average is $138.77 and its 200 day moving average is $134.61. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. Middleby has a 1-year low of $118.41 and a 1-year high of $161.01.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $942.81 million for the quarter, compared to analysts’ expectations of $996.60 million. During the same period last year, the business posted $2.35 earnings per share. The company’s revenue was down 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Middleby will post 9.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Middleby

A number of large investors have recently made changes to their positions in MIDD. Quarry LP increased its position in shares of Middleby by 133.3% during the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after buying an additional 132 shares during the period. Covestor Ltd raised its position in shares of Middleby by 306.5% in the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 190 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Middleby by 93.2% in the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 136 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Middleby during the second quarter valued at approximately $45,000. Finally, Avior Wealth Management LLC grew its stake in Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 287 shares during the period. 98.55% of the stock is currently owned by institutional investors.

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.