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

Middleby (NASDAQ:MIDD) had its price objective raised by Barclays from $160.00 to $180.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other research analysts also recently commented on MIDD. KeyCorp boosted their target price on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on shares of Middleby from $134.00 to $145.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group restated a “hold” rating and set a $160.00 price target (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Finally, Robert W. Baird lifted their price objective on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $180.86.

Middleby Trading Down 2.3 %

NASDAQ:MIDD opened at $165.36 on Wednesday. The stock has a fifty day simple moving average of $152.36 and a 200 day simple moving average of $143.15. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 22.81 and a beta of 1.64. Middleby has a 1-year low of $118.41 and a 1-year high of $182.73. 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 (NASDAQ:MIDD) last issued its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.50 by $0.38. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. During the same quarter last year, the firm posted $2.65 earnings per share. Middleby’s revenue was up .4% compared to the same quarter last year. Sell-side analysts forecast that Middleby will post 9.11 earnings per share for the current year.

Institutional Trading of Middleby

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MIDD. Lorne Steinberg Wealth Management Inc. lifted its position in Middleby by 0.3% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company’s stock valued at $3,323,000 after purchasing an additional 70 shares during the period. Principal Securities Inc. raised its stake in shares of Middleby by 16.0% during the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock worth $77,000 after buying an additional 78 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Middleby by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company’s stock valued at $224,000 after buying an additional 81 shares during the period. Pictet Asset Management Holding SA boosted its stake in Middleby by 1.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company’s stock valued at $971,000 after acquiring an additional 81 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in Middleby by 4.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 88 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

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.