Middleby (NASDAQ:MIDD) Receives “Hold” Rating from Jefferies Financial Group

Jefferies Financial Group reaffirmed their hold rating on shares of Middleby (NASDAQ:MIDD) in a research note issued to investors on Thursday, Marketbeat.com reports. Jefferies Financial Group currently has a $160.00 price target on the industrial products company’s stock, down from their prior price target of $170.00.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group cut their price objective on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 price objective on shares of Middleby in a research note on Saturday, September 14th. Finally, StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $154.67.

Middleby Price Performance

Shares of MIDD opened at $141.08 on Thursday. The firm has a market capitalization of $7.59 billion, a PE ratio of 19.46 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The company’s fifty day moving average price is $138.60 and its 200-day moving average price is $134.26. Middleby has a 1-year low of $118.41 and a 1-year high of $161.01.

Middleby (NASDAQ:MIDD) last announced 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 return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $942.81 million during the quarter, compared to analysts’ expectations of $996.60 million. During the same quarter in the previous year, the business earned $2.35 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts predict that Middleby will post 9.12 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Quarry LP lifted its holdings in Middleby by 133.3% during the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 132 shares in the last quarter. Covestor Ltd boosted its holdings in 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. increased its stake in Middleby by 93.2% during the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock worth $39,000 after buying an additional 136 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Middleby during the second quarter valued at approximately $45,000. Finally, Avior Wealth Management LLC lifted its position in shares of Middleby by 820.0% in 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 in the last quarter. 98.55% of the stock is owned by institutional investors and hedge funds.

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.