Middleby (NASDAQ:MIDD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Middleby (NASDAQ:MIDD) had its price target lifted by equities research analysts at JPMorgan Chase & Co. from $134.00 to $145.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 15.07% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. Jefferies Financial Group reissued 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. Robert W. Baird upped their price target on Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. 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 research report on Monday, January 27th. Finally, Canaccord Genuity Group boosted their price target on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $178.83.

Middleby Stock Down 0.2 %

MIDD traded down $0.42 on Monday, hitting $170.72. 381,146 shares of the company were exchanged, compared to its average volume of 886,067. 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 company has a market cap of $9.18 billion, a price-to-earnings ratio of 23.55 and a beta of 1.63. The firm has a 50-day moving average price of $142.91 and a two-hundred day moving average price of $138.94. Middleby has a twelve month low of $118.41 and a twelve month high of $177.90.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same period in the previous year, the company posted $2.35 earnings per share. Middleby’s revenue was down 3.9% compared to the same quarter last year. On average, equities analysts predict that Middleby will post 9.12 earnings per share for the current year.

Institutional Investors Weigh In On Middleby

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP boosted 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 in the last quarter. Covestor Ltd grew its stake in 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 acquiring an additional 190 shares during the last quarter. UMB Bank n.a. increased its holdings in Middleby by 93.2% during the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 136 shares in the last quarter. Avior Wealth Management LLC raised its position in Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 287 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Middleby by 91.8% in the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 234 shares in the last quarter. 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.