Brokerages Set The Middleby Co. (NASDAQ:MIDD) Target Price at $180.86

The Middleby Co. (NASDAQ:MIDD) has earned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $180.86.

A number of analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Canaccord Genuity Group increased their price objective on Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Robert W. Baird increased their price target on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group restated a “hold” rating and set a $160.00 price objective (down previously from $170.00) on shares of Middleby in a report on Thursday, December 12th.

Insider Activity at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the transaction, the director now owns 6,111 shares in the company, valued at approximately $999,209.61. This represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Middleby

A number of large investors have recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in Middleby by 121.4% in the fourth quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company’s stock valued at $615,000 after purchasing an additional 2,425 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Middleby in the 4th quarter valued at $469,000. First Citizens Bank & Trust Co. acquired a new stake in Middleby in the 4th quarter valued at $219,000. GHP Investment Advisors Inc. lifted its holdings in Middleby by 13.7% during the fourth quarter. GHP Investment Advisors Inc. now owns 22,929 shares of the industrial products company’s stock valued at $3,106,000 after purchasing an additional 2,763 shares in the last quarter. Finally, Olstein Capital Management L.P. grew its position in shares of Middleby by 3.6% in the fourth quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company’s stock valued at $9,617,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of NASDAQ:MIDD opened at $161.58 on Thursday. Middleby has a one year low of $118.41 and a one year high of $182.73. The firm has a market cap of $8.66 billion, a PE ratio of 22.29 and a beta of 1.64. The firm’s 50 day simple moving average is $154.12 and its 200-day simple moving average is $143.76. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Middleby (NASDAQ:MIDD) last issued its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.38. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $996.69 million. During the same period in the prior year, the business earned $2.65 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities analysts predict that Middleby will post 9.11 EPS for the current 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.