Middleby (NASDAQ:MIDD) Given New $150.00 Price Target at JPMorgan Chase & Co.

Middleby (NASDAQ:MIDD) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $145.00 to $150.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 10.52% from the company’s previous close.

Several other equities research analysts have also weighed in on MIDD. StockNews.com lowered Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. Barclays raised their target price on shares of Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday. KeyCorp upped 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. Finally, Robert W. Baird raised their price target on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Middleby has a consensus rating of “Hold” and a consensus price target of $179.71.

Middleby Stock Down 1.0 %

NASDAQ:MIDD traded down $1.62 during mid-day trading on Wednesday, hitting $167.64. The company had a trading volume of 200,174 shares, compared to its average volume of 846,850. Middleby has a 1 year low of $118.41 and a 1 year high of $182.73. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 23.14 and a beta of 1.64. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $151.72 and a 200-day simple moving average of $143.00.

Middleby (NASDAQ:MIDD) last released its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.38. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $996.69 million. During the same period in the prior year, the firm posted $2.65 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts forecast that Middleby will post 9.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MIDD. Vanguard Group Inc. raised its stake in shares of Middleby by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,260,935 shares of the industrial products company’s stock valued at $712,594,000 after purchasing an additional 21,771 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Middleby by 1.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,895,553 shares of the industrial products company’s stock worth $256,753,000 after buying an additional 35,449 shares during the last quarter. Turtle Creek Asset Management Inc. grew its holdings in shares of Middleby by 2.9% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 1,866,359 shares of the industrial products company’s stock valued at $252,798,000 after acquiring an additional 53,276 shares in the last quarter. Earnest Partners LLC increased its position in shares of Middleby by 3.8% in the fourth quarter. Earnest Partners LLC now owns 1,311,966 shares of the industrial products company’s stock valued at $177,706,000 after acquiring an additional 47,443 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Middleby by 4,494.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock worth $171,524,000 after acquiring an additional 1,238,767 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

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.