Brokerages Set The Middleby Co. (NASDAQ:MIDD) PT at $154.67

The Middleby Co. (NASDAQ:MIDD - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $154.67.

Several research firms have recently commented on MIDD. Canaccord Genuity Group restated a "buy" rating and issued a $164.00 target price on shares of Middleby in a research note on Saturday, September 14th. Robert W. Baird boosted their price objective on shares of Middleby from $155.00 to $169.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Middleby from $118.00 to $120.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. StockNews.com raised shares of Middleby from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Finally, Canaccord Genuity Group decreased their price objective on shares of Middleby from $164.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, November 1st.

Hedge Funds Weigh In On Middleby

A number of institutional investors have recently modified their holdings of MIDD. Allspring Global Investments Holdings LLC raised its position in shares of Middleby by 1,246.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company's stock valued at $28,000 after buying an additional 162 shares during the last quarter. Quarry LP increased its position in Middleby by 133.3% during the second quarter. Quarry LP now owns 231 shares of the industrial products company's stock worth $28,000 after purchasing an additional 132 shares during the last quarter. GAMMA Investing LLC increased its position in Middleby by 97.7% during the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company's stock worth $31,000 after purchasing an additional 126 shares during the last quarter. Covestor Ltd increased its position in Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company's stock worth $35,000 after purchasing an additional 190 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company's stock worth $39,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company's stock.

Middleby Stock Down 0.6 %

Shares of NASDAQ MIDD traded down $0.89 during mid-day trading on Tuesday, reaching $136.33. The company had a trading volume of 343,054 shares, compared to its average volume of 505,104. 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 50 day simple moving average of $137.06 and a two-hundred day simple moving average of $133.37. The stock has a market cap of $7.33 billion, a P/E ratio of 18.87 and a beta of 1.58. Middleby has a 52-week low of $118.41 and a 52-week high of $161.01.

Middleby (NASDAQ:MIDD - Get Free Report) last released its 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). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same quarter last year, the business posted $2.35 EPS. The firm's revenue was down 3.9% on a year-over-year basis. Sell-side analysts predict that Middleby will post 9.2 earnings per share for the current year.

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.