Middleby (NASDAQ:MIDD) Lowered to "Hold" Rating by StockNews.com

Middleby (NASDAQ:MIDD - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday.

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

Middleby Stock Down 0.1 %

Shares of MIDD traded down $0.11 during mid-day trading on Thursday, reaching $131.80. The company's stock had a trading volume of 56,442 shares, compared to its average volume of 660,341. Middleby has a 1 year low of $118.41 and a 1 year high of $182.73. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 18.14 and a beta of 1.44. The business has a fifty day moving average of $155.11 and a 200 day moving average of $146.03.

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

Insider Activity

In related news, Director Chapin Sarah Palisi sold 500 shares of Middleby stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the sale, the director now directly owns 6,111 shares of the company's stock, valued at $999,209.61. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Middleby

Several large investors have recently modified their holdings of MIDD. Versant Capital Management Inc boosted its stake in Middleby by 760.0% in the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock worth $39,000 after purchasing an additional 228 shares during the period. UMB Bank n.a. raised its holdings in shares of Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 116 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Middleby in the fourth quarter worth $71,000. Principal Securities Inc. boosted its holdings in Middleby by 16.0% during the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock worth $77,000 after purchasing an additional 78 shares during the last quarter. Finally, Coppell Advisory Solutions LLC increased its stake in Middleby by 220.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company's stock valued at $82,000 after buying an additional 417 shares during the last quarter. 98.55% of the stock is currently 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.