Middleby (NASDAQ:MIDD) Upgraded by StockNews.com to "Buy" Rating

Middleby (NASDAQ:MIDD - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.

Other equities analysts have also issued reports about the company. KeyCorp raised their price target 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 target price on Middleby from $192.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on shares of Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a report on Wednesday, February 26th. Jefferies Financial Group reaffirmed a "hold" rating and set a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Finally, Barclays increased their target price 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, three have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $180.86.

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Middleby Stock Performance

MIDD traded down $4.37 during trading hours on Tuesday, hitting $152.76. The stock had a trading volume of 442,633 shares, compared to its average volume of 616,799. The stock has a market cap of $8.19 billion, a PE ratio of 21.07 and a beta of 1.72. 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's fifty day simple moving average is $161.29 and its 200 day simple moving average is $145.93.

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

Insider Transactions at Middleby

In other news, Director Chapin Sarah Palisi sold 500 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the transaction, the director now directly owns 6,111 shares in the company, valued at approximately $999,209.61. This represents a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.16% of the company's stock.

Institutional Trading of Middleby

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Middleby by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,260,935 shares of the industrial products company's stock worth $712,594,000 after acquiring an additional 21,771 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Middleby by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,895,553 shares of the industrial products company's stock worth $256,753,000 after purchasing an additional 35,449 shares during the period. Turtle Creek Asset Management Inc. boosted its position in Middleby by 2.9% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 1,866,359 shares of the industrial products company's stock valued at $252,798,000 after buying an additional 53,276 shares during the period. Earnest Partners LLC boosted its position in Middleby by 3.8% during the fourth quarter. Earnest Partners LLC now owns 1,311,966 shares of the industrial products company's stock valued at $177,706,000 after buying an additional 47,443 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Middleby by 4,494.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company's stock valued at $171,524,000 after buying an additional 1,238,767 shares during the last quarter. Institutional investors own 98.55% of the company's stock.

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.