The Middleby (NASDAQ:MIDD) Coverage Initiated by Analysts at Barclays

Barclays started coverage on shares of The Middleby (NASDAQ:MIDD) in a report issued on Thursday morning, Analyst Price Targets reports. The brokerage issued an overweight rating and a $195.00 target price on the industrial products company’s stock.

MIDD has been the topic of several other research reports. Jefferies Financial Group increased their target price on shares of The Middleby from $190.00 to $220.00 in a report on Thursday, April 22nd. KeyCorp increased their target price on shares of The Middleby from $195.00 to $210.00 and gave the company an overweight rating in a report on Thursday, April 22nd. CL King raised shares of The Middleby from a neutral rating to a buy rating in a report on Thursday, April 22nd. Citigroup raised shares of The Middleby from a neutral rating to a buy rating in a report on Monday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of The Middleby from a neutral rating to a buy rating and set a $200.00 price target on the stock in a report on Monday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $194.22.

Shares of NASDAQ:MIDD opened at $167.05 on Thursday. The business has a fifty day moving average of $171.00. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 41.55 and a beta of 1.73. The Middleby has a one year low of $70.50 and a one year high of $186.20. The company has a quick ratio of 1.15, a current ratio of 1.95 and a debt-to-equity ratio of 0.90.

The Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, May 6th. The industrial products company reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.16. The Middleby had a net margin of 8.59% and a return on equity of 14.70%. The company had revenue of $758.06 million for the quarter, compared to analyst estimates of $714.50 million. During the same quarter last year, the firm earned $1.46 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts forecast that The Middleby will post 7.71 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Pendal Group Limited purchased a new stake in shares of The Middleby in the 1st quarter worth about $365,000. Principal Financial Group Inc. lifted its position in shares of The Middleby by 46.8% in the 1st quarter. Principal Financial Group Inc. now owns 241,681 shares of the industrial products company’s stock worth $40,058,000 after purchasing an additional 77,022 shares during the period. Beacon Investment Advisory Services Inc. purchased a new stake in shares of The Middleby in the 1st quarter worth about $242,000. Oppenheimer Asset Management Inc. lifted its position in shares of The Middleby by 2.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,131 shares of the industrial products company’s stock worth $2,342,000 after purchasing an additional 278 shares during the period. Finally, Millennium Management LLC lifted its position in shares of The Middleby by 13.8% in the 1st quarter. Millennium Management LLC now owns 203,152 shares of the industrial products company’s stock worth $33,672,000 after purchasing an additional 24,623 shares during the period. 93.26% of the stock is owned by hedge funds and other institutional investors.

The Middleby Company Profile

The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, rethermalizers; steam cooking, food warming, catering, induction cooking, countertop cooking, and kitchen ventilation equipment; heated cabinets, charbroilers, ventless cooking systems, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, freezers; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.

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Analyst Recommendations for The Middleby (NASDAQ:MIDD)

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