Middleby (NASDAQ:MIDD) Price Target Raised to $227.00 at Robert W. Baird

Middleby (NASDAQ:MIDD - Free Report) had its target price hoisted by Robert W. Baird from $157.00 to $227.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company's stock.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group reissued a "hold" rating and set a $160.00 price objective (down previously from $170.00) on shares of Middleby in a report on Thursday, December 12th. Canaccord Genuity Group lifted their price objective on Middleby from $155.00 to $192.00 and gave the stock a "buy" rating in a research report on Monday. KeyCorp lifted their price objective on Middleby from $160.00 to $185.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, StockNews.com lowered Middleby from a "buy" rating to a "hold" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $174.67.

Middleby Stock Down 0.3 %

Shares of MIDD stock traded down $0.52 on Tuesday, hitting $171.14. 779,680 shares of the stock were exchanged, compared to its average volume of 913,147. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $9.21 billion, a P/E ratio of 23.61 and a beta of 1.61. The business has a 50-day moving average of $142.33 and a 200 day moving average of $138.57. Middleby has a fifty-two week low of $118.41 and a fifty-two week high of $177.90.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). The company had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business's revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the company posted $2.35 earnings per share. Equities analysts anticipate that Middleby will post 9.12 EPS for the current year.

Hedge Funds Weigh In On Middleby

A number of hedge funds and other institutional investors have recently modified their holdings of MIDD. Cardinal Capital Management raised its holdings in shares of Middleby by 8.5% in the 4th quarter. Cardinal Capital Management now owns 9,364 shares of the industrial products company's stock worth $1,268,000 after purchasing an additional 732 shares during the period. CIBC Asset Management Inc raised its holdings in Middleby by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company's stock valued at $224,000 after acquiring an additional 81 shares during the period. Principal Securities Inc. raised its holdings in Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock valued at $77,000 after acquiring an additional 78 shares during the period. Rhumbline Advisers raised its holdings in Middleby by 2.2% during the 4th quarter. Rhumbline Advisers now owns 147,109 shares of the industrial products company's stock valued at $19,926,000 after acquiring an additional 3,212 shares during the period. Finally, Blue Trust Inc. raised its holdings in Middleby by 111.1% during the 4th quarter. Blue Trust Inc. now owns 4,217 shares of the industrial products company's stock valued at $571,000 after acquiring an additional 2,219 shares during the period. Hedge funds and other 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.