Brokerages Set The Middleby Co. (NASDAQ:MIDD) PT at $156.17

Shares of The Middleby Co. (NASDAQ:MIDD) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently 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 issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $156.17.

Several equities research analysts have recently issued reports on MIDD shares. Robert W. Baird raised their target price on shares of Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 price objective on shares of Middleby in a research note on Saturday, September 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $164.00 target price on shares of Middleby in a research note on Friday, September 13th. 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, KeyCorp cut their price objective on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th.

Middleby Trading Down 7.6 %

Shares of NASDAQ MIDD opened at $129.70 on Friday. Middleby has a 1-year low of $109.59 and a 1-year high of $161.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43. The business’s 50 day moving average is $137.39 and its two-hundred day moving average is $133.86. The stock has a market capitalization of $6.97 billion, a P/E ratio of 18.14 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last released its 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 9.90% and a return on equity of 15.25%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.35 EPS. As a group, research analysts expect that Middleby will post 9.61 EPS for the current year.

Hedge Funds Weigh In On Middleby

Several institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position 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 acquiring an additional 162 shares in the last quarter. Quarry LP lifted its stake in shares of Middleby by 133.3% during 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 last quarter. GAMMA Investing LLC boosted its position in Middleby by 97.7% during the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 126 shares in the last quarter. UMB Bank n.a. grew its stake in Middleby by 93.2% in the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 136 shares during the last quarter. Finally, Crewe Advisors LLC raised its holdings in Middleby by 620.0% in the first quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 310 shares in the last quarter. 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.