Middleby (NASDAQ:MIDD) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.
A number of other research analysts have also recently commented on MIDD. Zacks Investment Research cut shares of Middleby from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Robert W. Baird raised shares of Middleby from a “neutral” rating to an “outperform” rating and set a $142.00 target price on the stock in a research report on Tuesday. Seaport Global Securities raised shares of Middleby from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 14th. Buckingham Research raised shares of Middleby from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $115.00 to $174.00 in a research report on Monday, September 24th. Finally, TheStreet cut shares of Middleby from a “b-” rating to a “c+” rating in a research report on Friday, December 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $140.50.
NASDAQ MIDD opened at $115.76 on Tuesday. Middleby has a 52 week low of $96.65 and a 52 week high of $138.86. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.88. The firm has a market cap of $6.54 billion, a PE ratio of 18.79 and a beta of 1.82.
Middleby (NASDAQ:MIDD) last posted its earnings results on Wednesday, November 7th. The industrial products company reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.01). Middleby had a return on equity of 22.14% and a net margin of 11.45%. The firm had revenue of $713.30 million for the quarter, compared to analyst estimates of $731.46 million. During the same period in the previous year, the firm posted $1.36 earnings per share. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. As a group, equities research analysts anticipate that Middleby will post 5.99 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP acquired a new stake in Middleby in the third quarter valued at $1,147,000. Disciplined Growth Investors Inc. MN raised its holdings in Middleby by 2.7% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,618,017 shares of the industrial products company’s stock valued at $209,290,000 after acquiring an additional 42,520 shares in the last quarter. Vision Capital Management Inc. raised its holdings in Middleby by 59.3% in the third quarter. Vision Capital Management Inc. now owns 20,961 shares of the industrial products company’s stock valued at $2,711,000 after acquiring an additional 7,802 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Middleby by 21.1% in the third quarter. Alliancebernstein L.P. now owns 83,224 shares of the industrial products company’s stock valued at $10,765,000 after acquiring an additional 14,477 shares in the last quarter. Finally, Westpac Banking Corp raised its holdings in shares of Middleby by 963.1% during the third quarter. Westpac Banking Corp now owns 43,886 shares of the industrial products company’s stock worth $5,677,000 after purchasing an additional 39,758 shares during the period.
Middleby Company Profile
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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