The Middleby Co. (NASDAQ:MIDD) Receives Average Rating of “Moderate Buy” from Analysts

Shares of The Middleby Co. (NASDAQ:MIDD) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $154.67.

MIDD has been the topic of several research reports. Robert W. Baird raised their price target on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group reissued a “buy” rating and set a $164.00 target price on shares of Middleby in a research note on Saturday, September 14th. Canaccord Genuity Group dropped their target price on Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd.

Middleby Trading Up 0.9 %

Shares of Middleby stock opened at $137.22 on Tuesday. The company’s 50-day simple moving average is $137.06 and its 200-day simple moving average is $133.37. Middleby has a 52-week low of $118.41 and a 52-week high of $161.01. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 18.93 and a beta of 1.58. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same period in the previous year, the company posted $2.35 earnings per share. Middleby’s revenue was down 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Middleby will post 9.2 earnings per share for the current year.

Hedge Funds Weigh In On Middleby

Institutional investors have recently bought and sold shares of the business. Verdence Capital Advisors LLC lifted its stake in shares of Middleby by 4.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 88 shares during the period. Townsquare Capital LLC raised its holdings in Middleby by 1.4% during the third quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company’s stock worth $871,000 after acquiring an additional 89 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Middleby by 4.8% in the 2nd quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock valued at $248,000 after buying an additional 93 shares during the last quarter. Assetmark Inc. increased its position in Middleby by 5.2% during the third quarter. Assetmark Inc. now owns 1,868 shares of the industrial products company’s stock worth $260,000 after buying an additional 93 shares during the last quarter. Finally, Mendota Financial Group LLC lifted its stake in shares of Middleby by 10.0% during the 2nd quarter. Mendota Financial Group LLC now owns 1,150 shares of the industrial products company’s stock worth $141,000 after buying an additional 105 shares during 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.