Jefferies Financial Group reaffirmed their hold rating on shares of Middleby (NASDAQ:MIDD – Free Report) in a research report report published on Thursday, MarketBeat Ratings reports. Jefferies Financial Group currently has a $160.00 price target on the industrial products company’s stock, down from their previous price target of $170.00.
A number of other research analysts have also weighed in on MIDD. Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 target price on shares of Middleby in a research note on Saturday, September 14th. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Canaccord Genuity Group decreased their target price on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Middleby currently has a consensus rating of “Hold” and a consensus target price of $154.67.
Read Our Latest Research Report on MIDD
Middleby Price Performance
Middleby (NASDAQ:MIDD – Get Free Report) last announced 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). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business had revenue of $942.81 million during the quarter, compared to analysts’ expectations of $996.60 million. During the same quarter in the prior year, the firm earned $2.35 EPS. Middleby’s revenue for the quarter was down 3.9% on a year-over-year basis. Research analysts expect that Middleby will post 9.12 EPS for the current year.
Institutional Trading of Middleby
Several institutional investors and hedge funds have recently made changes to their positions in the company. Verdence Capital Advisors LLC grew its holdings in Middleby by 4.0% during the third 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 boosted its stake 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 worth $871,000 after purchasing an additional 89 shares during the last quarter. Blue Trust Inc. increased its stake in Middleby by 4.8% in the second 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 during the last quarter. Assetmark Inc. raised its stake in Middleby by 5.2% during 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. Finally, Quarry LP raised its holdings in shares of Middleby by 133.3% in the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 132 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.
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.
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