The Middleby Co. (NASDAQ:MIDD) Given Average Recommendation of “Hold” by Brokerages

The Middleby Co. (NASDAQ:MIDD) has been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $154.67.

MIDD has been the subject of a number of research analyst reports. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $155.00 target price on shares of Middleby in a research report on Friday, December 20th.

Middleby Stock Down 0.0 %

Middleby stock opened at $134.50 on Wednesday. The stock’s 50 day moving average price is $138.31 and its 200 day moving average price is $135.81. Middleby has a 1-year low of $118.41 and a 1-year high of $161.01. The company has a market cap of $7.24 billion, a PE ratio of 18.55 and a beta of 1.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. During the same period last year, the company earned $2.35 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, sell-side analysts predict that Middleby will post 9.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Middleby

Several hedge funds have recently bought and sold shares of the stock. Everence Capital Management Inc. acquired a new stake in shares of Middleby during the fourth quarter valued at $200,000. GAMMA Investing LLC lifted its holdings in Middleby by 27.2% in the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 133 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Middleby during the 3rd quarter worth about $891,000. Virtu Financial LLC purchased a new stake in shares of Middleby during the third quarter worth about $639,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Middleby in the third quarter valued at approximately $88,000. 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.