The Middleby Co. (NASDAQ:MIDD) Receives $159.38 Average PT from Analysts

The Middleby Co. (NASDAQ:MIDD) has received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $158.50.

Several brokerages recently issued reports on MIDD. Canaccord Genuity Group lowered their price target on Middleby from $166.00 to $159.00 and set a “buy” rating on the stock in a research note on Thursday. Jefferies Financial Group raised their target price on Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th.

Middleby Trading Down 1.7 %

Shares of MIDD stock opened at $136.28 on Friday. The business’s 50 day moving average is $148.93 and its two-hundred day moving average is $140.29. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73. Middleby has a 12 month low of $109.59 and a 12 month high of $161.01. The company has a market cap of $7.31 billion, a PE ratio of 18.39 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.89 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.16). The business had revenue of $926.90 million during the quarter, compared to the consensus estimate of $979.05 million. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.19 earnings per share. Equities analysts predict that Middleby will post 10.27 EPS for the current year.

Insider Activity

In related news, Director Cathy L. Mccarthy sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total value of $153,120.00. Following the transaction, the director now owns 7,971 shares in the company, valued at $1,220,519.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Middleby news, Director Cathy L. Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total value of $153,120.00. Following the transaction, the director now directly owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Chapin Sarah Palisi sold 350 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total transaction of $53,014.50. Following the sale, the director now owns 6,306 shares of the company’s stock, valued at approximately $955,169.82. The disclosure for this sale can be found here. Insiders own 1.16% of the company’s stock.

Hedge Funds Weigh In On Middleby

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its holdings in Middleby by 218.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 21,842 shares of the industrial products company’s stock valued at $3,214,000 after purchasing an additional 14,991 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Middleby by 13.3% during the 4th quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company’s stock valued at $251,621,000 after purchasing an additional 198,859 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Middleby by 54.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 38,356 shares of the industrial products company’s stock valued at $4,910,000 after purchasing an additional 13,493 shares during the period. Hudson Bay Capital Management LP raised its holdings in Middleby by 28.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 56,712 shares of the industrial products company’s stock worth $7,259,000 after buying an additional 12,589 shares during the period. Finally, Cardinal Capital Management lifted its stake in Middleby by 2.2% in the fourth quarter. Cardinal Capital Management now owns 5,728 shares of the industrial products company’s stock valued at $843,000 after buying an additional 124 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

About Middleby

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.