The Middleby Co. (NASDAQ:MIDD) Given Average Rating of "Hold" by Analysts

The Middleby Co. (NASDAQ:MIDD - Get Free Report) has earned a consensus recommendation of "Hold" from the nine brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $180.86.

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of Middleby from a "buy" rating to a "hold" rating in a research note on Monday, January 27th. Canaccord Genuity Group increased their price objective on shares of Middleby from $192.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday. Barclays boosted their target price on Middleby from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday. Jefferies Financial Group reiterated a "hold" rating and set a $160.00 price objective (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a report on Wednesday.

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Middleby Trading Up 1.3 %

Shares of MIDD stock traded up $2.16 during mid-day trading on Thursday, hitting $165.41. The company's stock had a trading volume of 629,370 shares, compared to its average volume of 852,520. The company has a market cap of $8.90 billion, a PE ratio of 22.82 and a beta of 1.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The company's fifty day simple moving average is $153.59 and its 200-day simple moving average is $143.56. Middleby has a 52 week low of $118.41 and a 52 week high of $182.73.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in shares of Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company's stock worth $35,000 after buying an additional 190 shares in the last quarter. Avior Wealth Management LLC boosted its position in Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company's stock worth $45,000 after purchasing an additional 287 shares during the last quarter. UMB Bank n.a. boosted its position in Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock worth $54,000 after purchasing an additional 116 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Middleby during the 4th quarter valued at $71,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Middleby during the 3rd quarter worth $72,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

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.