Middleby (NASDAQ:MIDD) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Middleby (NASDAQ:MIDD) from a buy rating to a hold rating in a research report report published on Saturday.

Several other brokerages have also recently weighed in on MIDD. Jefferies Financial Group dropped their price objective on Middleby from $200.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Canaccord Genuity Group set a $165.00 target price on shares of Middleby in a research note on Wednesday, August 5th. Barclays set a $155.00 target price on shares of Middleby and gave the company an “overweight” rating in a report on Monday, July 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Middleby in a report on Wednesday, July 29th. Finally, Oppenheimer assumed coverage on shares of Middleby in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $205.00 price objective for the company. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Middleby Trading Down 3.1%

NASDAQ:MIDD opened at $130.30 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.96 and a quick ratio of 1.10. The firm has a 50-day moving average of $149.83 and a 200-day moving average of $148.95. The company has a market cap of $5.89 billion, a PE ratio of -15.37 and a beta of 1.32. Middleby has a one year low of $110.82 and a one year high of $180.13.

Institutional Investors Weigh In On Middleby

Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Middleby during the second quarter valued at $27,000. Torren Management LLC bought a new position in shares of Middleby during the 4th quarter worth $25,000. Clearstead Advisors LLC raised its stake in Middleby by 201.8% in the 4th quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 111 shares during the period. Elevation Wealth Partners LLC lifted its holdings in Middleby by 553.8% during the second quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 144 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Middleby by 1,292.9% during the fourth quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

About Middleby

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid?cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.