Analysts Set The Middleby Co. (NASDAQ:MIDD) Target Price at $180.86

The Middleby Co. (NASDAQ:MIDD - Get Free Report) has earned an average rating of "Hold" from the nine research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $180.86.

A number of research analysts recently issued reports on MIDD shares. KeyCorp raised their price objective on shares of Middleby from $160.00 to $185.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Canaccord Genuity Group boosted their target price on shares of Middleby from $192.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Robert W. Baird raised their target price on Middleby from $157.00 to $227.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Jefferies Financial Group reiterated 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a report on Wednesday, February 26th.

Insider Activity

In other news, Director Chapin Sarah Palisi sold 500 shares of the 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 transaction, the director now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.16% of the company's stock.

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Institutional Investors Weigh In On Middleby

Several institutional investors have recently made changes to their positions in the stock. Lorne Steinberg Wealth Management Inc. lifted its stake in Middleby by 0.3% in the 4th 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 in the last quarter. Principal Securities Inc. raised its holdings in shares of Middleby by 16.0% in 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 in the last quarter. CIBC Asset Management Inc boosted its position in shares of 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 last quarter. Pictet Asset Management Holding SA raised its stake in 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 valued at $971,000 after purchasing an additional 81 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in Middleby by 1.4% during the third quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company's stock valued at $871,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company's stock.

Middleby Price Performance

MIDD stock traded up $0.61 during trading on Monday, reaching $157.13. 434,826 shares of the company were exchanged, compared to its average volume of 604,523. Middleby has a twelve month low of $118.41 and a twelve month high of $182.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 21.67 and a beta of 1.72. The company has a 50-day moving average of $160.76 and a two-hundred day moving average of $145.70.

Middleby (NASDAQ:MIDD - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $996.69 million. During the same quarter last year, the business posted $2.65 EPS. Middleby's revenue for the quarter was up .4% on a year-over-year basis. As a group, equities analysts predict that Middleby will post 9.11 earnings per share for the current fiscal year.

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.