Analysts Set The Middleby Co. (NASDAQ:MIDD) Target Price at $155.43

The Middleby Co. (NASDAQ:MIDD) has received an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $155.43.

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 price objective on shares of Middleby in a research report on Friday, August 30th. KeyCorp decreased their price objective on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Robert W. Baird upped their target price on Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Finally, Raymond James started coverage on shares of Middleby in a research note on Friday, June 28th. They set a “market perform” rating for the company.

Institutional Trading of Middleby

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Greenleaf Trust grew its stake in Middleby by 4.3% during the first quarter. Greenleaf Trust now owns 1,807 shares of the industrial products company’s stock worth $291,000 after buying an additional 75 shares during the period. Blue Trust Inc. increased its holdings in Middleby by 4.8% in the 2nd quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 93 shares in the last quarter. Mendota Financial Group LLC raised its position in Middleby by 10.0% in the second 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 period. M&T Bank Corp lifted its stake in shares of Middleby by 4.5% during the fourth quarter. M&T Bank Corp now owns 2,552 shares of the industrial products company’s stock worth $375,000 after purchasing an additional 110 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Middleby by 97.7% in the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Price Performance

Shares of NASDAQ:MIDD opened at $129.41 on Thursday. Middleby has a one year low of $109.59 and a one year high of $161.01. The stock has a market cap of $6.96 billion, a PE ratio of 18.02 and a beta of 1.58. The business’s fifty day moving average price is $133.73 and its two-hundred day moving average price is $137.81. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.43 and a current ratio of 2.50.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $991.55 million during the quarter, compared to analysts’ expectations of $994.05 million. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 EPS. On average, 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.