Barclays Forecasts Strong Price Appreciation for Middleby (NASDAQ:MIDD) Stock

Middleby (NASDAQ:MIDD - Get Free Report) had its price target hoisted by equities research analysts at Barclays from $160.00 to $180.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. Barclays's price target suggests a potential upside of 8.82% from the stock's current price.

A number of other brokerages have also recently issued reports on MIDD. JPMorgan Chase & Co. boosted their price objective on Middleby from $134.00 to $145.00 and gave the stock an "underweight" rating in a report on Monday, February 3rd. KeyCorp boosted their price objective on Middleby from $160.00 to $185.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Canaccord Genuity Group lifted their price target on shares of Middleby from $155.00 to $192.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Robert W. Baird lifted their price target on shares of Middleby from $157.00 to $227.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, StockNews.com downgraded shares of Middleby from a "buy" rating to a "hold" rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $180.86.

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Middleby Stock Up 1.3 %

Shares of MIDD traded up $2.16 during midday trading on Wednesday, hitting $165.41. The stock had a trading volume of 629,370 shares, compared to its average volume of 852,520. The company has a 50 day simple moving average of $153.59 and a two-hundred day simple moving average of $143.51. Middleby has a twelve month low of $118.41 and a twelve month high of $182.73. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 22.82 and a beta of 1.64. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.38. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $996.69 million. During the same quarter last year, the company earned $2.65 EPS. Middleby's revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts anticipate that Middleby will post 9.11 EPS for the current year.

Institutional Trading of Middleby

Several institutional investors have recently modified their holdings of the business. Lorne Steinberg Wealth Management Inc. grew its stake in shares of Middleby by 0.3% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company's stock worth $3,323,000 after purchasing an additional 70 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Middleby by 16.0% in 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. CIBC Asset Management Inc grew its stake in shares of Middleby by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company's stock worth $224,000 after purchasing an additional 81 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Middleby by 1.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company's stock worth $971,000 after purchasing an additional 81 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of Middleby by 4.0% in the third quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company's stock worth $317,000 after purchasing an additional 88 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.