The Middleby Co. (NASDAQ:MIDD) Receives $174.67 Consensus Target Price from Analysts

The Middleby Co. (NASDAQ:MIDD - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $178.83.

Several analysts have recently issued reports on MIDD shares. 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 research note on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on Middleby from $134.00 to $145.00 and gave the company an "underweight" rating in a report on Monday. StockNews.com lowered shares of Middleby from a "buy" rating to a "hold" rating in a research report on Monday, January 27th. KeyCorp upped their price objective on shares of Middleby from $160.00 to $185.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Finally, Robert W. Baird lifted their price objective on Middleby from $157.00 to $227.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th.

Middleby Price Performance

Shares of Middleby stock traded down $3.00 during trading on Friday, hitting $166.54. The stock had a trading volume of 868,908 shares, compared to its average volume of 901,222. The business has a fifty day moving average of $143.91 and a two-hundred day moving average of $139.54. The firm has a market cap of $8.96 billion, a P/E ratio of 22.97 and a beta of 1.64. Middleby has a fifty-two week low of $118.41 and a fifty-two week high of $177.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Institutional Investors Weigh In On Middleby

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP increased its holdings in shares of Middleby by 133.3% in the second quarter. Quarry LP now owns 231 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 132 shares in the last quarter. Covestor Ltd increased its stake in shares of Middleby by 306.5% in the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company's stock valued at $35,000 after buying an additional 190 shares during the period. UMB Bank n.a. raised its position in shares of 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 acquiring an additional 136 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 287 shares during the period. Finally, GAMMA Investing LLC increased its position in Middleby by 91.8% in the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company's stock worth $68,000 after purchasing an additional 234 shares during the period. Institutional investors and hedge funds 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.