Middleby (NASDAQ:MIDD) Price Target Raised to $227.00 at Robert W. Baird

Middleby (NASDAQ:MIDD) had its price target lifted by Robert W. Baird from $157.00 to $227.00 in a report issued on Tuesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

MIDD has been the topic of several other research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. StockNews.com cut Middleby from a “buy” rating to a “hold” rating in a research report on Monday. Canaccord Genuity Group lifted their price objective on Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a report on Monday. Finally, KeyCorp upped their price objective on shares of Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $174.67.

Middleby Stock Up 0.7 %

Shares of NASDAQ:MIDD opened at $172.89 on Tuesday. Middleby has a 1 year low of $118.41 and a 1 year high of $177.90. The company has a market capitalization of $9.30 billion, a PE ratio of 23.85 and a beta of 1.61. The business has a fifty day moving average price of $140.98 and a two-hundred day moving average price of $138.12. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results 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). The company had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. Middleby’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.35 EPS. Analysts forecast 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. Verdence Capital Advisors LLC increased its holdings in Middleby by 4.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 88 shares during the period. Townsquare Capital LLC grew its position in shares of Middleby by 1.4% during the 3rd quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company’s stock valued at $871,000 after purchasing an additional 89 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Middleby by 5.2% in the third quarter. Assetmark Inc. now owns 1,868 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 93 shares during the period. UMB Bank n.a. raised its position in shares of Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock worth $54,000 after buying an additional 116 shares in the last quarter. Finally, Quarry LP boosted its stake in Middleby by 133.3% during the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after buying an additional 132 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

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.