Middleby (NASDAQ:MIDD) Price Target Raised to $192.00

Middleby (NASDAQ:MIDD - Free Report) had its price objective raised by Canaccord Genuity Group from $155.00 to $192.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company's stock.

A number of other analysts also recently weighed in on MIDD. StockNews.com raised shares of Middleby from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Jefferies Financial Group restated a "hold" rating and set a $160.00 target price (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Middleby presently has an average rating of "Hold" and an average target price of $165.00.

Middleby Trading Up 2.4 %

NASDAQ MIDD traded up $4.03 during trading on Monday, hitting $173.75. The company had a trading volume of 1,754,257 shares, compared to its average volume of 835,456. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. Middleby has a one year low of $118.41 and a one year high of $177.90. The company has a market cap of $9.35 billion, a price-to-earnings ratio of 23.96 and a beta of 1.61. The company's fifty day moving average is $139.56 and its 200-day moving average is $137.45.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. During the same quarter last year, the company posted $2.35 earnings per share. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. On average, sell-side analysts predict that Middleby will post 9.12 earnings per share for the current year.

Institutional Investors Weigh In On Middleby

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIDD. Quarry LP grew its holdings in Middleby by 133.3% during the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company's stock valued at $28,000 after buying an additional 132 shares in the last quarter. Covestor Ltd grew its position in Middleby by 306.5% in the third quarter. Covestor Ltd now owns 252 shares of the industrial products company's stock worth $35,000 after acquiring an additional 190 shares in the last quarter. UMB Bank n.a. grew its position in Middleby by 93.2% in the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company's stock worth $39,000 after acquiring an additional 136 shares in the last quarter. Avior Wealth Management LLC grew its position in Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company's stock worth $45,000 after acquiring an additional 287 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Middleby by 91.8% in the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company's stock worth $68,000 after purchasing an additional 234 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.