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

Shares of The Middleby Co. (NASDAQ:MIDD) have received a consensus rating of “Hold” from the nine analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $179.43.

Several analysts recently weighed in on the company. StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a research note on Thursday, April 10th. Canaccord Genuity Group increased their price objective on Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Robert W. Baird boosted their target price on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Barclays increased 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, KeyCorp dropped their price objective on shares of Middleby from $185.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th.

Middleby Trading Up 2.8 %

NASDAQ:MIDD opened at $127.44 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $150.48 and its 200-day moving average is $145.59. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 17.58 and a beta of 1.44. Middleby has a 12 month low of $118.41 and a 12 month high of $182.73.

Middleby (NASDAQ:MIDD) last announced its 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 firm had revenue of $1.01 billion for 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 business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $2.65 EPS. Equities analysts anticipate that Middleby will post 9.11 EPS for the current year.

Insider Activity

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of Middleby stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the sale, the director now directly owns 6,111 shares of the company’s stock, valued at approximately $999,209.61. The trade was a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.18% of the company’s stock.

Hedge Funds Weigh In On Middleby

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its position in Middleby by 760.0% in the first quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 228 shares during the period. UMB Bank n.a. grew its holdings in shares of Middleby by 41.1% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 116 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Middleby during the 4th quarter worth about $71,000. Principal Securities Inc. increased its position in shares of Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 78 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its position in Middleby by 220.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company’s stock valued at $82,000 after buying an additional 417 shares in the last quarter. 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.