KeyCorp Lowers Middleby (NASDAQ:MIDD) Price Target to $175.00

Middleby (NASDAQ:MIDD) had its target price dropped by research analysts at KeyCorp from $185.00 to $175.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective would suggest a potential upside of 21.91% from the stock’s current price.

MIDD has been the subject of several other research reports. Canaccord Genuity Group lifted their price target on Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 26th. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price target (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. StockNews.com lowered Middleby from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Finally, Robert W. Baird boosted their target price on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Middleby presently has a consensus rating of “Hold” and a consensus price target of $179.43.

Middleby Trading Up 14.7 %

Shares of MIDD stock opened at $143.55 on Tuesday. Middleby has a 12-month low of $118.41 and a 12-month high of $182.73. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average price is $157.31 and its 200-day moving average price is $146.21. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 19.80 and a beta of 1.44.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.50 by $0.38. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business posted $2.65 earnings per share. Equities research analysts predict that Middleby will post 9.11 EPS for the current fiscal year.

Insider Activity at Middleby

In related news, Director Chapin Sarah Palisi sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the sale, the director now owns 6,111 shares in the company, valued at approximately $999,209.61. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.16% of the stock is owned by company insiders.

Institutional Trading of Middleby

A number of large investors have recently modified their holdings of the company. Versant Capital Management Inc raised its stake in Middleby by 760.0% in the first quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company’s stock worth $39,000 after buying an additional 228 shares in the last quarter. UMB Bank n.a. raised its stake in Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock worth $54,000 after buying an additional 116 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Middleby in the fourth quarter worth approximately $71,000. Principal Securities Inc. raised its stake in Middleby by 16.0% in the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock worth $77,000 after buying an additional 78 shares in the last quarter. Finally, Coppell Advisory Solutions LLC raised its stake in Middleby by 220.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company’s stock worth $82,000 after buying an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

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.