Middleby (NASDAQ:MIDD) Price Target Raised to $227.00

Middleby (NASDAQ:MIDD) had its price objective upped by Robert W. Baird from $157.00 to $227.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on the stock. StockNews.com cut shares of Middleby from a “buy” rating to a “hold” rating in a research report on Monday. KeyCorp increased their target price on shares of Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday. Canaccord Genuity Group boosted their price target on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $174.67.

Middleby Stock Performance

Middleby stock opened at $172.89 on Tuesday. Middleby has a fifty-two week low of $118.41 and a fifty-two week high of $177.90. The firm’s fifty day moving average price is $140.98 and its 200-day moving average price is $138.12. The stock has a market cap of $9.30 billion, a P/E ratio of 23.85 and a beta of 1.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (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 firm had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. During the same period last year, the firm earned $2.35 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities research analysts expect that Middleby will post 9.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Middleby

A number of hedge funds have recently modified their holdings of the company. Quarry LP grew its stake in shares of Middleby by 133.3% in the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 132 shares during the last quarter. Covestor Ltd lifted its holdings in 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 buying an additional 190 shares during the period. UMB Bank n.a. grew its position 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 worth $39,000 after buying an additional 136 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after buying an additional 287 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Middleby by 91.8% during the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 234 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.