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

The Middleby Co. (NASDAQ:MIDDGet Free Report) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $153.43.

A number of equities research analysts have commented on the company. William Blair upgraded Middleby to a “hold” rating in a report on Wednesday, May 8th. Canaccord Genuity Group decreased their price objective on Middleby from $166.00 to $159.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. cut Middleby from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $145.00 to $118.00 in a research report on Wednesday, May 22nd.

View Our Latest Research Report on MIDD

Insider Activity at Middleby

In other Middleby 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 sale, the director now directly owns 7,971 shares of the company’s stock, valued at approximately $1,220,519.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Cathy L. Mccarthy sold 1,000 shares of the company’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 transaction of $153,120.00. Following the completion of the transaction, the director now owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chapin Sarah Palisi sold 235 shares of Middleby stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total transaction of $32,237.30. Following the completion of the transaction, the director now owns 7,211 shares in the company, valued at approximately $989,204.98. The disclosure for this sale can be found here. Insiders own 1.16% of the company’s stock.

Institutional Investors Weigh In On Middleby

Institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Middleby in the 1st quarter valued at about $25,000. Allspring Global Investments Holdings LLC raised its holdings in Middleby by 1,246.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock valued at $28,000 after buying an additional 162 shares during the period. Signaturefd LLC lifted its position in Middleby by 230.1% during the fourth quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock valued at $35,000 after buying an additional 168 shares in the last quarter. Crewe Advisors LLC grew its stake in Middleby by 620.0% during the first quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after buying an additional 310 shares during the period. Finally, Clear Street Markets LLC acquired a new stake in shares of Middleby in the third quarter worth $50,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Price Performance

Middleby stock opened at $124.73 on Tuesday. The firm has a market capitalization of $6.71 billion, a PE ratio of 17.37 and a beta of 1.58. Middleby has a 52 week low of $109.59 and a 52 week high of $161.01. The firm’s 50-day simple moving average is $143.74 and its 200 day simple moving average is $142.13. The company has a quick ratio of 1.28, a current ratio of 2.40 and a debt-to-equity ratio of 0.72.

Middleby (NASDAQ:MIDDGet Free Report) last released 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). Middleby had a net margin of 9.82% and a return on equity of 15.88%. The business had revenue of $926.90 million during the quarter, compared to analyst estimates of $979.05 million. During the same quarter in the prior year, the company earned $2.19 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts predict that Middleby will post 9.89 EPS for the current fiscal year.

About Middleby

(Get Free Report

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.

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Analyst Recommendations for Middleby (NASDAQ:MIDD)

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