The Middleby Co. (NASDAQ:MIDD) Given Average Rating of “Moderate Buy” by Analysts

The Middleby Co. (NASDAQ:MIDD) has received an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $155.43.

MIDD has been the subject of several research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 target price on shares of Middleby in a research note on Friday, August 30th. KeyCorp decreased their price objective on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. upped their target price on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Raymond James began coverage on Middleby in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Robert W. Baird upped their price objective on Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MIDD. Greenleaf Trust lifted its stake in Middleby by 4.3% in the first quarter. Greenleaf Trust now owns 1,807 shares of the industrial products company’s stock valued at $291,000 after buying an additional 75 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Middleby by 4.8% in the 2nd quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 93 shares during the period. Mendota Financial Group LLC lifted its position in Middleby by 10.0% in the 2nd quarter. Mendota Financial Group LLC now owns 1,150 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 105 shares during the last quarter. M&T Bank Corp boosted its stake in Middleby by 4.5% during the 4th quarter. M&T Bank Corp now owns 2,552 shares of the industrial products company’s stock valued at $375,000 after purchasing an additional 110 shares during the period. Finally, GAMMA Investing LLC grew its position in Middleby by 97.7% in the 2nd 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. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Performance

Middleby stock opened at $129.41 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43. The firm’s fifty day moving average price is $133.73 and its 200 day moving average price is $137.81. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 18.02 and a beta of 1.58. Middleby has a 12-month low of $109.59 and a 12-month high of $161.01.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The business had revenue of $991.55 million for the quarter, compared to analysts’ expectations of $994.05 million. During the same quarter in the previous year, the firm posted $2.47 earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year. On average, research analysts forecast that Middleby will post 9.66 EPS for the current fiscal 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.