Middleby (NASDAQ:MIDD) Price Target Raised to $150.00

Middleby (NASDAQ:MIDD) had its price target increased by JPMorgan Chase & Co. from $145.00 to $150.00 in a report published on Wednesday,Benzinga reports. The firm currently has an underweight rating on the industrial products company’s stock.

Several other research analysts have also issued reports on the company. Barclays raised their target price on Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday. KeyCorp raised their target price on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Robert W. Baird lifted their price objective on Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, StockNews.com lowered Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Middleby has a consensus rating of “Hold” and a consensus target price of $180.86.

Middleby Stock Up 1.3 %

Shares of MIDD opened at $165.41 on Wednesday. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 22.82 and a beta of 1.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. Middleby has a 52 week low of $118.41 and a 52 week high of $182.73. The stock has a fifty day moving average of $153.59 and a 200-day moving average of $143.51.

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

Institutional Trading of Middleby

Several large investors have recently made changes to their positions in the company. Forum Financial Management LP acquired a new stake in shares of Middleby in the 4th quarter valued at about $348,000. Burgundy Asset Management Ltd. acquired a new stake in shares of Middleby in the 4th quarter valued at about $207,000. Two Sigma Advisers LP acquired a new stake in shares of Middleby in the 4th quarter valued at about $298,000. Two Sigma Investments LP acquired a new stake in shares of Middleby in the 4th quarter valued at about $1,621,000. Finally, Teza Capital Management LLC acquired a new position in Middleby during the 4th quarter valued at about $2,129,000. 98.55% of the stock is currently owned by institutional investors and hedge funds.

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.