Analysts Set The Middleby Co. (NASDAQ:MIDD) Price Target at $154.67

The Middleby Co. (NASDAQ:MIDD) has been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $154.67.

A number of research firms have recently weighed in on MIDD. Canaccord Genuity Group reissued a “buy” rating and set a $164.00 price target on shares of Middleby in a research report on Saturday, September 14th. JPMorgan Chase & Co. boosted their target price on shares of Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group decreased their price target on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, November 1st. 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 the stock. Allspring Global Investments Holdings LLC boosted its stake in Middleby by 1,246.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 162 shares during the period. Russell Investments Group Ltd. grew its holdings in Middleby by 3.5% in the 1st quarter. Russell Investments Group Ltd. now owns 13,409 shares of the industrial products company’s stock worth $2,156,000 after buying an additional 455 shares in the last quarter. Vanguard Group Inc. increased its position in Middleby by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock valued at $822,165,000 after acquiring an additional 15,798 shares during the period. Bessemer Group Inc. raised its stake in Middleby by 20.3% during the 1st quarter. Bessemer Group Inc. now owns 8,574 shares of the industrial products company’s stock valued at $1,378,000 after acquiring an additional 1,447 shares in the last quarter. Finally, Crewe Advisors LLC boosted its position in Middleby by 620.0% during the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of MIDD stock opened at $146.97 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The company’s fifty day moving average price is $137.94 and its two-hundred day moving average price is $133.39. The firm has a market capitalization of $7.91 billion, a P/E ratio of 20.27 and a beta of 1.58. Middleby has a 12 month low of $118.41 and a 12 month high of $161.01.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same quarter last year, the firm posted $2.35 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. On average, research analysts anticipate that Middleby will post 9.12 earnings per share 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.