The Middleby Co. (NASDAQ:MIDD) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of The Middleby Co. (NASDAQ:MIDD) have earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $155.43.

MIDD has been the subject of several analyst reports. Robert W. Baird increased their price objective on Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Raymond James initiated coverage on Middleby in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price target on shares of Middleby in a research note on Friday, August 30th. JPMorgan Chase & Co. increased their price objective on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Finally, KeyCorp cut their price target on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th.

Institutional Trading of Middleby

Large investors have recently made changes to their positions in the business. Greenleaf Trust lifted its position in Middleby by 4.3% during the first quarter. Greenleaf Trust now owns 1,807 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 75 shares during the period. Blue Trust Inc. lifted its holdings in shares of Middleby by 4.8% in the 2nd quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock valued at $248,000 after buying an additional 93 shares during the period. Mendota Financial Group LLC boosted its stake in shares of Middleby by 10.0% in the second quarter. Mendota Financial Group LLC now owns 1,150 shares of the industrial products company’s stock worth $141,000 after buying an additional 105 shares during the last quarter. M&T Bank Corp grew its holdings in Middleby by 4.5% during the fourth quarter. M&T Bank Corp now owns 2,552 shares of the industrial products company’s stock worth $375,000 after acquiring an additional 110 shares during the period. Finally, GAMMA Investing LLC raised 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 acquiring an additional 126 shares in the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Price Performance

Shares of MIDD stock opened at $131.81 on Thursday. The company has a market cap of $7.09 billion, a P/E ratio of 18.36 and a beta of 1.58. 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 stock’s 50-day moving average is $133.39 and its 200 day moving average is $138.03. Middleby has a 1-year low of $109.59 and a 1-year high of $161.01.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The firm had revenue of $991.55 million for the quarter, compared to the consensus estimate of $994.05 million. During the same quarter in the previous year, the firm earned $2.47 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Research analysts predict that Middleby will post 9.66 earnings per share for the current fiscal year.

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.