The Middleby Co. (NASDAQ:MIDD) Given Consensus Rating of “Hold” by Analysts

Shares of The Middleby Co. (NASDAQ:MIDD) have received an average rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $180.86.

Several research analysts recently weighed in on MIDD shares. Canaccord Genuity Group increased their target price on Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Jefferies Financial Group reissued a “hold” rating and set a $160.00 target price (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Barclays raised their price target on shares of Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Robert W. Baird boosted their price objective on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th.

Middleby Stock Performance

Middleby stock opened at $160.10 on Thursday. The stock has a fifty day moving average price of $154.56 and a 200 day moving average price of $143.90. Middleby has a 52 week low of $118.41 and a 52 week high of $182.73. The firm has a market capitalization of $8.59 billion, a P/E ratio of 22.08 and a beta of 1.64. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.

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

Insider Activity

In other news, Director Chapin Sarah Palisi sold 500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the sale, the director now directly owns 6,111 shares in the company, valued at $999,209.61. This trade represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd raised its position in shares of Middleby by 306.5% in the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after buying an additional 287 shares during the last quarter. UMB Bank n.a. raised its holdings in Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 116 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Middleby during the 4th quarter valued at $71,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Middleby during the 3rd quarter worth $72,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

About Middleby

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.