Middleby (NASDAQ:MIDD) Given New $175.00 Price Target at KeyCorp

Middleby (NASDAQ:MIDD - Free Report) had its target price decreased by KeyCorp from $185.00 to $175.00 in a report issued on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company's stock.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird lifted their target price on Middleby from $157.00 to $227.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Barclays raised their price target on Middleby from $160.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Canaccord Genuity Group boosted their price objective on Middleby from $192.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Middleby presently has a consensus rating of "Hold" and a consensus target price of $179.43.

Middleby Price Performance

Shares of NASDAQ:MIDD traded up $0.60 during midday trading on Tuesday, reaching $132.19. The company's stock had a trading volume of 1,316,512 shares, compared to its average volume of 659,163. The business's fifty day simple moving average is $155.80 and its 200-day simple moving average is $146.07. The company has a market capitalization of $7.09 billion, a P/E ratio of 18.23 and a beta of 1.44. 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 has a fifty-two week low of $118.41 and a fifty-two week high of $182.73.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.38. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $996.69 million. During the same period in the previous year, the firm posted $2.65 earnings per share. The company's revenue was up .4% on a year-over-year basis. As a group, equities research analysts expect that Middleby will post 9.11 EPS for the current fiscal year.

Insider Transactions at Middleby

In other news, Director Chapin Sarah Palisi sold 500 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the sale, the director now owns 6,111 shares of the company's stock, valued at $999,209.61. This trade represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.16% of the company's stock.

Institutional Trading of Middleby

Hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in shares of Middleby by 760.0% during the first quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock worth $39,000 after acquiring an additional 228 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Middleby by 41.1% during the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock worth $54,000 after buying an additional 116 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Middleby during the 4th quarter worth approximately $71,000. Principal Securities Inc. grew its stake in shares of Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock worth $77,000 after acquiring an additional 78 shares in the last quarter. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of Middleby by 220.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 417 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

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.