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

StockNews.com lowered shares of Middleby (NASDAQ:MIDD - Free Report) from a buy rating to a hold rating in a report issued on Wednesday.

A number of other analysts also recently weighed in on MIDD. Jefferies Financial Group reaffirmed a "hold" rating and issued a $160.00 target price (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Barclays raised their price objective on Middleby from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. KeyCorp boosted their target price on Middleby from $160.00 to $185.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Robert W. Baird raised their price target on Middleby from $157.00 to $227.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Finally, Canaccord Genuity Group upped their price target on shares of Middleby from $192.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $180.86.

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Middleby Trading Down 8.1 %

Shares of MIDD traded down $12.59 during trading hours on Wednesday, reaching $142.17. 1,480,324 shares of the company traded hands, compared to its average volume of 621,664. Middleby has a 12 month low of $118.41 and a 12 month high of $182.73. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 19.61 and a beta of 1.72. The company's fifty day moving average price is $161.82 and its two-hundred day moving average price is $146.49. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66.

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

Insider Transactions at Middleby

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

Hedge Funds Weigh In On Middleby

Several institutional investors and hedge funds have recently bought and sold shares of MIDD. Lorne Steinberg Wealth Management Inc. lifted its position in shares of Middleby by 0.3% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company's stock valued at $3,323,000 after buying an additional 70 shares in the last quarter. Principal Securities Inc. lifted 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 valued at $77,000 after purchasing an additional 78 shares in the last quarter. CIBC Asset Management Inc boosted its position 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 period. Pictet Asset Management Holding SA increased 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 in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Middleby by 2.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,472 shares of the industrial products company's stock valued at $470,000 after buying an additional 95 shares in the last quarter. 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.