The Middleby Co. (NASDAQ:MIDD) Given Consensus Recommendation of “Hold” by Analysts

Shares of The Middleby Co. (NASDAQ:MIDD) have been given a consensus recommendation of “Hold” by the nine analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $180.86.

Several research firms recently weighed in on MIDD. Robert W. Baird raised their target price 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. JPMorgan Chase & Co. increased their price objective on shares of Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group increased their price objective on shares of Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Barclays increased their price objective on shares of Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, StockNews.com lowered shares of Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th.

Insider Transactions at Middleby

In other news, Director Chapin Sarah Palisi sold 500 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 6,111 shares in the company, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.16% of the company’s stock.

Institutional Investors Weigh In On Middleby

Several institutional investors have recently made changes to their positions in the company. Avior Wealth Management LLC lifted its holdings in Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after buying an additional 287 shares in the last quarter. UMB Bank n.a. lifted its holdings in Middleby by 41.1% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock valued at $54,000 after buying an additional 116 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Middleby during the 4th quarter valued at about $71,000. Principal Securities Inc. lifted its holdings in Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after buying an additional 78 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its holdings in Middleby by 220.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company’s stock valued at $82,000 after buying an additional 417 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

MIDD opened at $154.41 on Monday. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 21.30 and a beta of 1.72. The company has a fifty day moving average of $159.67 and a 200 day moving average of $145.28. Middleby has a fifty-two week low of $118.41 and a fifty-two week high of $182.73. 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 (NASDAQ:MIDD) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.38. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. Middleby’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company posted $2.65 earnings per share. As a group, sell-side analysts forecast that Middleby will post 9.11 earnings per share 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.