Middleby (NASDAQ:MIDD) Given “Hold” Rating at Jefferies Financial Group

Middleby (NASDAQ:MIDD)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Financial Group in a report issued on Thursday, MarketBeat reports. They presently have a $160.00 price objective on the industrial products company’s stock, down from their prior price objective of $170.00. Jefferies Financial Group’s target price suggests a potential upside of 15.32% from the stock’s previous close.

Several other analysts have also commented on the company. Canaccord Genuity Group decreased their price target on Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Canaccord Genuity Group restated a “buy” rating and issued a $164.00 target price on shares of Middleby in a research note on Saturday, September 14th. Finally, StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $154.67.

Middleby Price Performance

NASDAQ:MIDD opened at $138.75 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The company has a 50-day moving average of $138.68 and a 200-day moving average of $134.36. Middleby has a 52 week low of $118.41 and a 52 week high of $161.01. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 19.14 and a beta of 1.60.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The business had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.35 EPS. As a group, equities research analysts anticipate that Middleby will post 9.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP increased its position in Middleby by 133.3% in the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 132 shares in the last quarter. Covestor Ltd grew its stake in shares of Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 190 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 136 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Middleby in the second quarter valued at approximately $45,000. Finally, Avior Wealth Management LLC raised its position in Middleby by 820.0% in the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 287 shares during the last quarter. 98.55% of the stock is owned by institutional investors.

Middleby Company Profile

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.