Middleby (NASDAQ:MIDD) Given New $180.00 Price Target at Barclays

Middleby (NASDAQ:MIDD) had its target price raised by equities research analysts at Barclays from $160.00 to $180.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price objective would suggest a potential upside of 6.35% from the stock’s current price.

MIDD has been the subject of several other reports. JPMorgan Chase & Co. lifted their price objective on Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Robert W. Baird lifted their price target on Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Canaccord Genuity Group boosted their price objective on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Jefferies Financial Group restated 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 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $179.00.

Middleby Stock Performance

Shares of MIDD opened at $169.25 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. Middleby has a 52-week low of $118.41 and a 52-week high of $182.73. The company has a 50-day simple moving average of $151.72 and a 200-day simple moving average of $143.00. The company has a market capitalization of $9.10 billion, a PE ratio of 23.34 and a beta of 1.64.

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

Institutional Investors Weigh In On Middleby

A number of hedge funds and other institutional investors have recently made changes to their positions in MIDD. International Assets Investment Management LLC lifted its holdings in shares of Middleby by 13,813.0% during the 3rd quarter. International Assets Investment Management LLC now owns 15,026 shares of the industrial products company’s stock worth $2,091,000 after acquiring an additional 14,918 shares during the period. Assenagon Asset Management S.A. purchased a new position in Middleby during the third quarter worth approximately $3,834,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Middleby in the 3rd quarter valued at $72,000. PFG Investments LLC acquired a new position in shares of Middleby in the 3rd quarter valued at $213,000. Finally, State of Alaska Department of Revenue raised its position in shares of Middleby by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,212 shares of the industrial products company’s stock worth $864,000 after buying an additional 420 shares during the period. Hedge funds and other 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.