Interval Partners LP Buys 9,545 Shares of The Middleby Co. (NASDAQ:MIDD)

Interval Partners LP increased its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 21.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,280 shares of the industrial products company’s stock after acquiring an additional 9,545 shares during the quarter. Interval Partners LP owned approximately 0.10% of Middleby worth $6,655,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Trexquant Investment LP bought a new position in shares of Middleby during the 4th quarter worth about $1,178,000. Epoch Investment Partners Inc. grew its stake in Middleby by 481.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 68,400 shares of the industrial products company’s stock valued at $10,066,000 after acquiring an additional 56,627 shares during the period. PEAK6 Investments LLC bought a new stake in shares of Middleby during the fourth quarter valued at approximately $3,435,000. Balyasny Asset Management L.P. raised its position in shares of Middleby by 533.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 483,214 shares of the industrial products company’s stock worth $71,115,000 after purchasing an additional 406,958 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in shares of Middleby by 10.1% in the 1st quarter. Retirement Systems of Alabama now owns 73,925 shares of the industrial products company’s stock worth $11,886,000 after purchasing an additional 6,789 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Up 0.7 %

Middleby stock opened at $142.25 on Tuesday. The firm has a 50 day moving average price of $136.18 and a 200-day moving average price of $136.83. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 0.69. The Middleby Co. has a twelve month low of $109.59 and a twelve month high of $161.01. The company has a market capitalization of $7.65 billion, a P/E ratio of 19.81 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The firm had revenue of $991.55 million for the quarter, compared to analyst estimates of $994.05 million. During the same period in the previous year, the company posted $2.47 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis. As a group, equities analysts predict that The Middleby Co. will post 9.66 EPS for the current year.

Analyst Ratings Changes

MIDD has been the topic of several research reports. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a report on Saturday, September 14th. JPMorgan Chase & Co. upped their target price on shares of Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 price target on shares of Middleby in a research note on Friday, September 13th. Raymond James assumed coverage on Middleby in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Robert W. Baird lifted their target price on Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.