JPMorgan Chase & Co. Boosts Middleby (NASDAQ:MIDD) Price Target to $145.00

Middleby (NASDAQ:MIDD) had its price target upped by investment analysts at JPMorgan Chase & Co. from $134.00 to $145.00 in a report released on Monday,Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 14.47% from the stock’s current price.

MIDD has been the subject of several other reports. StockNews.com downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. KeyCorp increased their price target on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Canaccord Genuity Group upped their target price on Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a report on Monday, January 27th. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Finally, Robert W. Baird increased their price target on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $178.83.

Middleby Price Performance

Shares of MIDD opened at $169.54 on Monday. The firm has a market cap of $9.12 billion, a PE ratio of 23.38 and a beta of 1.63. Middleby has a 52-week low of $118.41 and a 52-week high of $177.90. The business’s 50 day moving average price is $143.91 and its two-hundred day moving average price is $139.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Institutional Investors Weigh In On Middleby

Institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its position in Middleby by 4,494.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock valued at $171,524,000 after purchasing an additional 1,238,767 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Middleby by 17.7% in the third quarter. Pacer Advisors Inc. now owns 1,138,999 shares of the industrial products company’s stock worth $158,469,000 after buying an additional 171,634 shares during the period. Geode Capital Management LLC boosted its position in Middleby by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 936,596 shares of the industrial products company’s stock valued at $130,341,000 after acquiring an additional 8,926 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Middleby by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 344,391 shares of the industrial products company’s stock worth $47,915,000 after acquiring an additional 2,676 shares in the last quarter. Finally, Oldfield Partners LLP grew its stake in Middleby by 1.5% in the third quarter. Oldfield Partners LLP now owns 332,473 shares of the industrial products company’s stock worth $46,257,000 after purchasing an additional 4,837 shares during the period. 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.