The Middleby Co. (NASDAQ:MIDD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of The Middleby Co. (NASDAQ:MIDD) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $153.43.

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Middleby from $166.00 to $159.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. William Blair raised shares of Middleby to a “hold” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. cut shares of Middleby from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $145.00 to $118.00 in a research report on Wednesday, May 22nd.

Insider Buying and Selling at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 235 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total value of $32,237.30. Following the transaction, the director now owns 7,211 shares of the company’s stock, valued at $989,204.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Chapin Sarah Palisi sold 235 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total transaction of $32,237.30. Following the sale, the director now owns 7,211 shares of the company’s stock, valued at $989,204.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Miller III sold 2,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $126.32, for a total transaction of $252,640.00. Following the sale, the director now directly owns 10,931 shares in the company, valued at approximately $1,380,803.92. The disclosure for this sale can be found here. Insiders have sold 2,385 shares of company stock valued at $304,134 over the last 90 days. 1.16% of the stock is owned by insiders.

Institutional Trading of Middleby

Hedge funds have recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in shares of Middleby during the first quarter worth approximately $25,000. Allspring Global Investments Holdings LLC increased its stake in shares of Middleby by 1,246.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock worth $28,000 after buying an additional 162 shares during the period. Signaturefd LLC increased its stake in shares of Middleby by 230.1% during the fourth quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock worth $35,000 after buying an additional 168 shares during the period. Crewe Advisors LLC increased its stake in shares of 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, Fidelis Capital Partners LLC purchased a new stake in shares of Middleby during the first quarter worth approximately $63,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Price Performance

Middleby stock opened at $125.90 on Friday. Middleby has a 52-week low of $109.59 and a 52-week high of $161.01. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 17.53 and a beta of 1.60. The company has a fifty day simple moving average of $133.17 and a 200-day simple moving average of $142.03. 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:MIDD) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.16). The firm had revenue of $926.90 million for the quarter, compared to analyst estimates of $979.05 million. Middleby had a net margin of 9.82% and a return on equity of 15.88%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.19 EPS. On average, equities analysts anticipate that Middleby will post 9.79 EPS for the current fiscal year.

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.