The Middleby Co. (NASDAQ:MIDD) Receives $210.14 Consensus Target Price from Analysts

Shares of The Middleby Co. (NASDAQ:MIDD) have been assigned an average rating of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $210.14.

MIDD has been the topic of several recent analyst reports. Barclays increased their price target on The Middleby from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 14th. Robert W. Baird increased their price target on The Middleby from $214.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, July 6th.

In related news, CTO James K. Pool III sold 500 shares of the firm’s stock in a transaction on Wednesday, August 18th. The stock was sold at an average price of $178.00, for a total value of $89,000.00. Following the completion of the transaction, the chief technology officer now owns 25,479 shares in the company, valued at approximately $4,535,262. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Miller III sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $176.00, for a total value of $528,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 10,290 shares of company stock worth $1,829,659. 1.24% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIDD. HighTower Advisors LLC raised its stake in shares of The Middleby by 4.7% during the 1st quarter. HighTower Advisors LLC now owns 3,192 shares of the industrial products company’s stock valued at $521,000 after buying an additional 142 shares during the last quarter. State of Tennessee Treasury Department purchased a new position in shares of The Middleby in the 1st quarter valued at about $829,000. Russell Investments Group Ltd. increased its stake in shares of The Middleby by 4.2% in the 1st quarter. Russell Investments Group Ltd. now owns 35,219 shares of the industrial products company’s stock valued at $5,836,000 after purchasing an additional 1,420 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of The Middleby by 69.4% in the 1st quarter. Rockefeller Capital Management L.P. now owns 3,741 shares of the industrial products company’s stock valued at $619,000 after purchasing an additional 1,532 shares in the last quarter. Finally, CIBC World Markets Inc. increased its stake in shares of The Middleby by 17.9% in the 1st quarter. CIBC World Markets Inc. now owns 2,079 shares of the industrial products company’s stock valued at $345,000 after purchasing an additional 315 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Shares of MIDD stock opened at $168.15 on Monday. The Middleby has a 1 year low of $97.66 and a 1 year high of $196.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.09 and a quick ratio of 1.25. The stock’s 50 day simple moving average is $177.71 and its two-hundred day simple moving average is $174.96. The company has a market cap of $9.35 billion, a PE ratio of 29.19 and a beta of 1.73.

The Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Thursday, August 12th. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.04. The Middleby had a return on equity of 18.62% and a net margin of 10.99%. The business had revenue of $808.77 million for the quarter, compared to the consensus estimate of $808.61 million. Equities research analysts expect that The Middleby will post 8.37 EPS for the current year.

The Middleby Company Profile

The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.

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Analyst Recommendations for The Middleby (NASDAQ:MIDD)

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