Middleby's (MIDD) Hold Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reissued their hold rating on shares of Middleby (NASDAQ:MIDD - Free Report) in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage currently has a $160.00 price objective on the industrial products company's stock, down from their prior price objective of $170.00.

A number of other research firms have also recently commented on MIDD. Canaccord Genuity Group decreased their target price on shares of Middleby from $164.00 to $155.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded shares of Middleby from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $164.00 target price on shares of Middleby in a report on Saturday, September 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Middleby currently has a consensus rating of "Hold" and an average price target of $154.67.

Middleby Stock Performance

Shares of MIDD stock traded down $3.66 during mid-day trading on Thursday, reaching $141.08. 587,397 shares of the company's stock traded hands, compared to its average volume of 506,719. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The firm has a market capitalization of $7.59 billion, a PE ratio of 19.96 and a beta of 1.60. Middleby has a 12 month low of $118.41 and a 12 month high of $161.01. The firm has a 50 day moving average price of $138.45 and a two-hundred day moving average price of $134.22.

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

Institutional Investors Weigh In On Middleby

A number of hedge funds have recently made changes to their positions in MIDD. Quarry LP lifted its stake in shares of Middleby by 133.3% in the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 132 shares during the last quarter. Covestor Ltd lifted 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 buying an additional 190 shares during the last quarter. UMB Bank n.a. boosted its stake in Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company's stock worth $39,000 after buying an additional 136 shares during the period. Strategic Financial Concepts LLC bought a new position in Middleby during the second quarter valued at $45,000. Finally, Avior Wealth Management LLC raised its stake in shares of Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 287 shares during the period. 98.55% of the stock is currently owned by hedge funds and other 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.