Middleby (NASDAQ:MIDD) Price Target Raised to $180.00

Middleby (NASDAQ:MIDD) had its target price raised by Barclays from $160.00 to $180.00 in a report released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on MIDD. StockNews.com cut shares of Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Robert W. Baird boosted 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. KeyCorp boosted their price target on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Canaccord Genuity Group boosted their price target on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $180.86.

Middleby Stock Up 1.3 %

Shares of NASDAQ MIDD opened at $165.41 on Wednesday. The stock has a market capitalization of $8.90 billion, a P/E ratio of 22.82 and a beta of 1.64. The company has a 50-day moving average price of $153.59 and a 200-day moving average price of $143.51. Middleby has a 1 year low of $118.41 and a 1 year high of $182.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.38. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business’s revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $2.65 earnings per share. On average, equities research analysts forecast that Middleby will post 9.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in shares of Middleby by 121.4% during the 4th quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company’s stock valued at $615,000 after buying an additional 2,425 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Middleby during the 4th quarter valued at approximately $469,000. First Citizens Bank & Trust Co. purchased a new stake in shares of Middleby during the 4th quarter valued at approximately $219,000. GHP Investment Advisors Inc. lifted its stake in shares of Middleby by 13.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 22,929 shares of the industrial products company’s stock valued at $3,106,000 after buying an additional 2,763 shares in the last quarter. Finally, Olstein Capital Management L.P. lifted its stake in shares of Middleby by 3.6% during the 4th quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company’s stock valued at $9,617,000 after buying an additional 2,500 shares in the last quarter. 98.55% of the stock is owned by institutional investors.

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.