The Middleby Co. (NASDAQ:MIDD) Receives $154.67 Average Price Target from Analysts

The Middleby Co. (NASDAQ:MIDD) has been given a consensus recommendation of “Hold” by the eight brokerages that are covering the firm, MarketBeat reports. One 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 1 year price objective among brokerages that have covered the stock in the last year is $154.67.

Several analysts have weighed in on MIDD shares. Canaccord Genuity Group reiterated a “buy” rating and set a $155.00 price target on shares of Middleby in a research note on Friday. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price target (down previously from $170.00) on shares of Middleby in a report on Thursday, December 12th. StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 price objective on shares of Middleby in a research note on Saturday, September 14th.

Hedge Funds Weigh In On Middleby

Several institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC increased its holdings in Middleby by 13.7% in the first quarter. Cetera Advisors LLC now owns 1,560 shares of the industrial products company’s stock valued at $251,000 after buying an additional 188 shares in the last quarter. SG Americas Securities LLC raised its holdings in Middleby by 319.7% in the 2nd quarter. SG Americas Securities LLC now owns 10,979 shares of the industrial products company’s stock worth $1,346,000 after purchasing an additional 8,363 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Middleby in the second quarter valued at approximately $225,000. Blue Trust Inc. increased its position in shares of Middleby by 4.8% in the second quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock valued at $248,000 after buying an additional 93 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Middleby by 2.9% during the 2nd quarter. Boston Trust Walden Corp now owns 44,866 shares of the industrial products company’s stock worth $5,501,000 after buying an additional 1,275 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Stock Performance

Shares of Middleby stock opened at $134.72 on Friday. The company has a 50 day moving average price of $138.85 and a 200 day moving average price of $134.64. The firm has a market capitalization of $7.25 billion, a P/E ratio of 18.58 and a beta of 1.60. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. Middleby has a 52 week low of $118.41 and a 52 week high of $161.01.

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