Analysts Set The Middleby Corporation (NASDAQ:MIDD) PT at $160.71

The Middleby Corporation (NASDAQ:MIDD) has earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $160.7143.

MIDD has been the subject of several research analyst reports. Wall Street Zen downgraded Middleby from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Wolfe Research set a $163.00 target price on Middleby and gave the stock an “outperform” rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. dropped their target price on Middleby from $145.00 to $125.00 and set an “underweight” rating on the stock in a research report on Thursday, August 7th. Zacks Research raised Middleby to a “strong sell” rating in a research report on Monday, August 11th. Finally, Barclays dropped their target price on Middleby from $180.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. TCTC Holdings LLC increased its holdings in shares of Middleby by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 91 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Middleby during the 2nd quarter valued at about $30,000. Allworth Financial LP boosted its stake in Middleby by 168.8% during the 2nd quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 130 shares during the period. Versant Capital Management Inc boosted its stake in Middleby by 760.0% during the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 228 shares during the period. Finally, AdvisorShares Investments LLC bought a new stake in Middleby during the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Down 0.2%

Shares of Middleby stock opened at $134.85 on Monday. The stock has a 50-day moving average price of $138.04 and a 200 day moving average price of $142.09. The company has a market cap of $6.83 billion, a P/E ratio of 17.16 and a beta of 1.54. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64. Middleby has a 1 year low of $118.09 and a 1 year high of $182.73.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.15. The firm had revenue of $977.86 million during the quarter, compared to the consensus estimate of $979.59 million. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.39 EPS. As a group, analysts expect that Middleby will post 9.11 EPS for the current fiscal year.

Middleby Company Profile

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.