Middleby (NASDAQ:MIDD) Given New $175.00 Price Target at KeyCorp

Middleby (NASDAQ:MIDD) had its price objective cut by KeyCorp from $185.00 to $175.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their target price on Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a research report on Wednesday, February 26th. Barclays boosted their price objective on Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. StockNews.com lowered Middleby from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Robert W. Baird boosted their price target on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group restated a “hold” rating and set a $160.00 target price (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $179.43.

Middleby Trading Down 3.2 %

Shares of Middleby stock opened at $125.14 on Tuesday. The firm’s 50 day simple moving average is $158.43 and its two-hundred day simple moving average is $146.22. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 17.26 and a beta of 1.44. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. Middleby has a 12-month low of $118.41 and a 12-month high of $182.73.

Middleby (NASDAQ:MIDD) last issued its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.38. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $996.69 million. During the same quarter in the prior year, the business earned $2.65 earnings per share. The company’s revenue was up .4% compared to the same quarter last year. Analysts predict that Middleby will post 9.11 EPS for the current year.

Insider Buying and Selling

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the transaction, the director now owns 6,111 shares in the company, valued at $999,209.61. The trade was a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.16% of the stock is owned by insiders.

Institutional Trading of Middleby

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in Middleby by 121.4% during the 4th quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company’s stock worth $615,000 after purchasing an additional 2,425 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Middleby during the fourth quarter worth approximately $469,000. First Citizens Bank & Trust Co. acquired a new stake in Middleby in the fourth quarter valued at approximately $219,000. GHP Investment Advisors Inc. lifted its stake in Middleby by 13.7% in the fourth quarter. GHP Investment Advisors Inc. now owns 22,929 shares of the industrial products company’s stock worth $3,106,000 after acquiring an additional 2,763 shares during the last quarter. Finally, Olstein Capital Management L.P. grew its holdings in Middleby by 3.6% during the 4th quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company’s stock worth $9,617,000 after acquiring an additional 2,500 shares in the last quarter. 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.