Middleby (NASDAQ:MIDD) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Middleby (NASDAQ:MIDD) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

A number of other equities analysts have also commented on the stock. Canaccord Genuity Group lifted their price target on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 target price (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. Finally, KeyCorp increased their price target on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $174.67.

Middleby Trading Down 1.6 %

Shares of MIDD stock opened at $170.08 on Monday. Middleby has a twelve month low of $118.41 and a twelve month high of $177.90. The stock’s fifty day simple moving average is $141.67 and its 200 day simple moving average is $138.34. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $9.15 billion, a P/E ratio of 23.46 and a beta of 1.61.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) 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 firm had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same period in the prior year, the company earned $2.35 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that Middleby will post 9.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Middleby

Hedge funds have recently bought and sold shares of the company. Quarry LP boosted its holdings in Middleby by 133.3% during the second 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. Covestor Ltd boosted its stake in shares of Middleby by 306.5% in the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after buying an additional 190 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of 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 acquiring an additional 136 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 287 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Middleby by 91.8% during the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 234 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.